Indonesia January 2023: Hyundai (+233.4%), Honda (+44.7%) highlight market up 11.9%

The Hyundai Stargazer ranks #11 in Indonesia in January.

It’s a solid start of the year for the Indonesian new vehicle market, up 11.9% year-on-year to 94,087 wholesales. The retail market for its part is up 15.6% to 90,835 units.

In the wholesales brands ranking, Toyota (+26.6%) more than doubles the market growth to 30.8% share, however that’s below its Full Year 2022 level of 31.6%. Daihatsu (-0.7%) edges down on a high year-ago basis to match its FY2022 share at 19.3%. Honda (+44.7%) surges ahead to a fantastic 16.7% share vs. 12.5% over FY2022 whereas Mitsubishi (-34.5%) is in a rut at #4. Hyundai (+233.4%) continues to gear up and extend its footprint in this market, up three spots on December to #7 and 4.3% share. Fuso (+75.4%), Hino (+20.6%) and Isuzu (+18%) also beat the market in the remainder of the Top 10 whereas Wuling (-76.6%) implodes. Chery lands at #17.

Over in the retail aisle, Toyota (+11.6%) underperforms and is under threat from Daihatsu (+26%) just as Honda (+42.6%) posts a stellar gain here to but to a weaker 12.6% share. Hyundai (+398.5%) is even more impressive to #6 with Hino (+30.7%) and Fuso (+21.9%) also outpacing the market. 

Model-wise, the Honda Brio (+66.9%) confirms it is the favourite of Indonesian car buyers, distancing the Daihatsu Sigra (+29.5%) and Toyota Avanza (+81.2%). The Toyota Rush (+37%) is up 8 spots on December and the Daihatsu Gran Max Pikap (+43.5%) complete a Top 5 entirely outracing the market. The Mitsubishi Xpander (-9%) is in difficulty at #6 ahead of a shy Toyota Kijang Innova (+4%). The Toyota Calya (+294.8%) and Honda HR-V (+138.1%) score stunning upticks.

Previous post: Indonesia 2022: Honda Brio reclaims top spot in first millionaire market since 2019

One year ago: Indonesia January 2022: Suzuki Carry leads, Toyota Veloz up to #4 in market up 58.9%

Full January 2023 Top 27 all brands (wholesales and retail) and Top 120 all models (wholesales) below.