{"id":25710,"date":"2024-07-20T21:26:06","date_gmt":"2024-07-20T14:26:06","guid":{"rendered":"https:\/\/staging.cimigo.com\/?p=25710"},"modified":"2024-07-20T22:27:07","modified_gmt":"2024-07-20T15:27:07","slug":"giias-2024","status":"publish","type":"post","link":"https:\/\/staging.cimigo.com\/en\/trends\/giias-2024\/","title":{"rendered":"Automakers Rally at GIIAS 2024, Combating Industry Decline in Indonesia"},"content":{"rendered":"\n

Indonesian auto industry faces decline amid rising competition<\/strong><\/h2>\n\n\n\n

Cimigo <\/a>Indonesia market research observes a continuing decline of new car sales in Indonesia, dropping by 11.8% year-over-year in June 2024. This downturn marks a continuation of the industry slowdown that began to be felt by automakers in the third quarter of 2023.<\/p>\n\n\n\n

\"Indonesia's<\/figure>\n\n\n\n

Among the hardest-hit car manufacturers, Nissan experienced a substantial decline of 54.3%, followed closely by Subaru with a 51.8% drop. Suzuki and Wuling also faced significant declines, with drops of 41.5% and 41.6%, respectively. Other notable declines included Mercedes-Benz (-40.7%), Mazda (-39.8%), DFSK (-37.8%), Honda (-34.1%), Lexus (-30.6%), and Hyundai (-29.6%).<\/p>\n\n\n\n

Despite the general industry downturn, some manufacturers managed to buck the trend and achieve significant growth. MG saw an extraordinary rise of 766.7%, Chery 68.9%, and Kia 45.3%. However, it’s important to note that most of these top gainers had relatively small market shares to begin with, with Chery holding the highest share among them at just 1.2% in June 2024.

Gaikindo <\/a>Indonesia International Auto Show 2024 (GIIAS 2024) might be the key to alleviating this issue.<\/p>\n\n\n\n

GIIAS 2024 as a tipping point<\/strong><\/h2>\n\n\n\n

In response to the industry’s challenges, key players are turning to GIIAS 2024 to regain momentum. GIIAS 2024, held at various cities across Indonesia starting from the Indonesia International Expo (IIE) from July 18th to 28th, hosts 55 auto manufacturers from various countries, including Japan, Korea, China, and several European nations. The hope is that this major industry event will stimulate demand and revitalize sales.<\/p>\n\n\n\n

At GIIAS 2024, major players are using the event as a critical platform to launch new models and technologies. For instance, Toyota unveiled the All-New Prius HEV and introduced the concept car Toyota FT-3e. Nissan, not to be outdone, showcased the All-New Nissan Serena e-POWER. Other manufacturers are also leveraging the event to highlight their latest advancements, with hybrid and electric vehicles being a central theme of the innovations presented.<\/p>\n\n\n\n

\"Cimigo<\/figure>\n\n\n\n

Shifting consumer interests<\/strong><\/h2>\n\n\n\n

Eko Wicaksono, the managing director of Cimigo Indonesia market research specialists and an avid automotive observer, offers his perspective on this development after visiting the event.<\/p>\n\n\n\n

\u201cThe automotive industry is highly dynamic, driven by intense competition that forces each player to continually innovate and differentiate themselves from their competitors. Incumbent large players can no longer afford to rest on their laurels, as smaller brands are not only catching up but also racing ahead,\u201d he remarks.<\/p>\n\n\n\n

\u201cIn today’s market, consumer interest in automobiles is broadening. Even individuals who are not drivers but are involved in the decision-making process and use the vehicle are considered important consumers. As a result, car makers must stay updated on the preferences and needs of all passengers, not just the drivers. This comprehensive approach to understanding consumer needs is crucial for manufacturers aiming to stay competitive in a challenging market,\u201d adds Eko.<\/p>\n\n\n\n

Shared optimism supported by key events like GIIAS 2024<\/strong><\/h2>\n\n\n\n

In conclusion, the Indonesian auto industry is navigating through a period of significant decline, with many major manufacturers experiencing substantial drops in sales. However, the rise of smaller brands and the emphasis on innovation at events like GIIAS 2024 provide a glimmer of hope for the future. By continuing to focus on innovation and staying attuned to consumer preferences, car makers can strive to reverse the current downward trend and drive growth in the coming years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Indonesian auto industry faces decline amid rising competition Cimigo Indonesia market research observes a continuing decline of new car sales in Indonesia, dropping by 11.8% year-over-year in June 2024. This downturn marks a continuation of the industry slowdown that began to be felt by automakers in the third quarter of 2023. Among the hardest-hit car […]<\/p>\n","protected":false},"author":366,"featured_media":25754,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[988,1683],"tags":[1244,566],"class_list":["post-25710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research-indonesia","category-riset-pasar-indonesia-en","tag-indonesia-automotive-market-research","tag-indonesia-market-research"],"acf":[],"yoast_head":"\nGIIAS 2024 - A remedy for the recent automotive decline - Market research Vietnam Indonesia<\/title>\n<meta name=\"description\" content=\"Cimigo Indonesia observes a continuing decline of new car sales in Indonesia, but GIIAS 2024 might just orchestrate big automotive comebacks.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GIIAS 2024 - 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