Motorbike sales in Indonesia dropped 11.6% year-on-year to 427 thousand units in December 2023, following a 2.8% fall in the previous month. The decline came after the central bank raised its interest rate by 25 bps to 6% during October last year meeting. For the 2023 full year, motor sales surged by 19.4% to 6.2 million units from the same period in 2022. The sales within the Association of Indonesia Motorcycle Industry’s target range of 6.1 – 6.2 million units in 2023. Monthly, motor sales plunged 25.3%, reversing sharply from a 10.8% jump in November.
