Toyota Predicts Sluggish Growth for Automotive Industry in 2015

Surabaya (Antara) - PT Toyota Astra Motor Surabaya predicted a sluggish growth for the country's automotive industry in 2015 as a result of a number of the government policies that cause a decline in car sales in 2014. "Many buyers postpone buying cars," head of the Surabaya branch of Auto 2000 Kertajaya Hasan, said here on Saturday. This year , the increase in Bank Indonesia benchmark interest rate , high inflation, political conflict and an increase in the price of subsidized oil fuel caused a decline in car sales, Hasan said. Toyota, however, fared better as it already has a strong market foothold both in the country and in the region especially for Avanza, Innova, and Agya, he said. "The three brands dominate cal market in the country," he said. Currently Innova dominate 80 percent of the market of its type, Agya 42 percent and Avanza 39 percent. Altogether Toyota has a 35 percent share of car market in the country, he said, adding Agya , which was launched only a year ago, has put Avanza behind in sales. (*)