July 18, 2019 / 6:52 AM / a month ago

Indonesia's Astra expects countrywide car sales to drop to around 1 million for 2019

July 18 (Reuters) - Indonesian automobile distributor Astra expects the country’s overall car sales to reach between 1.05 to 1.1 million units for 2019, a slight drop from 2018, an executive said on Thursday.

“This is because the global economy is not so good and the export of CPO (crude palm oil) is low so it risks impacting our purchasing power,” Astra president director Prijono Sugiarto told reporters.

Over 1.5 million cars were sold in Southeast Asia’s largest economy in 2018, according to data from industry association, distributed by Astra. (Reporting by Cindy Silviana; Editing by Kim Coghill)

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