Forecast: Vehicles in Use in Indonesia

The number of vehicles in use in Indonesia has exhibited steady growth from 2013 to 2019, with minor fluctuations and a significant decline in 2020 due to the global pandemic, resulting in a 14.53% year-on-year decrease. Recovery was swift with a 17.7% increase in 2021, followed by consistent growth leading to 28.35 million units in 2023. The 2023 figure marks a 2.58% year-on-year increase, with a 2.85% CAGR over the past five years. Forecasts indicate a continued upward trajectory, with a 1.96% average annual growth rate from 2024 to 2028, leading to an anticipated 10.18% overall growth.

Future trends to watch for:

• Potential shifts in consumer preferences towards electric and hybrid vehicles.
• Impact of government policies aimed at reducing carbon emissions.
• Technological advancements and their integration into new vehicle models.
• Economic factors influencing consumer purchasing power and vehicle affordability.