Honda Prospect Motor (HPM), one of Indonesia’s leading car manufacturers, has recently reported a significant increase in its retail sales in the first quarter of 2023.
The company managed to sell 37,701 car units, a remarkable 45% growth compared to the same period last year. This impressive sales figure was confirmed by Yusak Billy, the Business Innovation and Sales & Marketing Director of PT Honda Prospect.
Factors Contributing to the Growth of Sales
According to Billy, several factors have led to the growth of sales, including the release of refreshing new products and sales promotions. These efforts have made it easier for consumers to purchase Honda cars. He also mentioned that the company is grateful for the positive trend shown in Q1 2023.
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Indonesian Car Sales in Q1 2023
In the first quarter of 2023, the wholesale basis of Indonesian car sales recorded 282,125 units. “The Big Five,” which includes Honda, Toyota, Daihatsu, Mitsubishi, and Suzuki, all experienced annual sales growth compared to the previous year in the same period.
Toyota, Daihatsu, and Honda were the top three best-selling brands, recording sales of 85,777 units, 54,341 units, and 47,027 units, respectively. Toyota is still the leading brand with a 5.7% growth year on year (YoY). Daihatsu has increased its sales by 6.9% compared to the previous year.
Meanwhile, Honda’s sales growth was the most impressive, with a YoY increase of 33.3%. The automotive brand Suzuki, which is part of the Indomobil Group (IMAS), has sold 22,436 units.