Indonesian Motorcycle Market Maintains Upward Momentum
The Indonesian motorcycle market maintains its upward momentum, after seeing a slight reduction in the first half of the year. The first half had closed with a 0.9% reduction in motorcycle sales, but rebounded by 4.1% up to October.
The upswing was the result of the Indonesian government’s commitment to electrify the country’s vehicles. In April 2024, the government committed U$455 million to subsidise the purchase of electric motorcycles aiming to cover the purchase of 800,000 new electric motorcycles and the conversion of 200,000 combustion engine motorcycles into electric ones. The subsidy program provides an IDR 7 million discount on the purchase of electric motorcycles. Hence the segment has increased by 96.6% this year.
The Chinese EV leader Yadea was quick to capitalise on the opportunity and invested heavily to produce electric scooters and motorcycles in Indonesia.
The inaugural vehicle delivery ceremony, held on March 14th, 2024, in Cikarang, Bekasi, Indonesia, marked a monumental milestone for Yadea’s expansion efforts in the Southeast Asian region.
Situated in Bekasi, West Java Province, the Yadea Indonesia production base encompasses a sprawling 28,000 square meters, boasting state-of-the-art facilities and cutting-edge technologies, and an annual production capacity of 300,000 units.
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