Forecast: Passenger Cars Registrations in Indonesia

The passenger car registrations in Indonesia have shown tremendous growth from 2013 to 2023. After a period of fluctuations between 2013 to 2018, the market witnessed a significant leap starting from 2020. With 29,793 thousand registrations in 2023, the market has grown exponentially. The year-on-year variation indicates that from 2020 to 2023, the market has seen robust increases with the CAGR over that period being an impressive 102.34%. Forecasted data suggests continued growth, with a CAGR over the next five years anticipated to be around 8.01%, amounting to 49,796 thousand registrations by 2028.

Future trends to watch for include the impact of electric vehicles (EVs) gaining traction in the market, government policies promoting green energy, and significant urbanization which could drive further demand for passenger cars.