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Today's Headlines Yamaha
Indonesia's motorcycle exports surged a whopping 51.8 percent year-on-year (y/y) to 431,187 units in full-year 2017 based on data from the Indonesian Motorcycle Industry Association (AISI). Sigit Kumala, Head of the Commercial Department at AISI, said the 51.8 percent growth pace is better than the association's target range of 30-40 percent (y/y).
The Yamaha Corporation plans to invest IDR 568.5 billion (approx. USD $43 million) to develop a musical instrument manufacturing factory in Indonesia. Japan-based Yamaha Corporation is a multinational with a wide range of products and services, including musical instruments, electronics, motorcycles and power sports equipment. Earlier this week Yamaha announced it has established a new subsidiary in Indonesia: Yamaha Musical Products Asia (YMPA).
Indonesia's Business Competition Supervisory Commission (KPPU), the country's anti-monopoly agency, penalized Yamaha Indonesia Motor Manufacturing (YIMM) and Astra Honda Motor (AHM) for forming a cartel with the purpose of conducting price-fixing and curtailing the distribution of Yamaha and Honda motorcycle sales in Indonesia, specifically those motorcycles with an engine capacity of 110-125 cubic centimeters.
Indonesian motorcycle exports have grown by a whopping 87 percent year-on-year (y/y) to 27,066 units in February 2016 from 14,433 units in the same month one year earlier. Sigit Kumala, Chairman of the commercial department of the Indonesian Motorcycle Industry Association (AISI), said this solid performance occurred on the back of the market expansion strategy applied by Indonesian motorcycle manufacturers. He added that Indonesia's export performance (in terms of motorcycle sales) has been improving since the second half of 2016.
Similar to the automotive industry, Indonesia’s motorcycle industry also feels the effects of lower demand so far this year. Due to Indonesia’s slowing economic growth in combination with the high domestic interest rate and depreciating rupiah, Indonesians’ purchasing power has weakened and thus Indonesian consumers have become more careful before purchasing motorcycles and cars. As a result stocks of motorcycles at local dealers have been rising and one way to have a healthier supply-demand ratio is by limiting motorcycle production.
Domestic motorcycle sales in Indonesia declined 5 percent year-on-year (y/y) to 680,642 units in October 2014 (from the same month last year). Particularly weaker sales of the underbone motorcycle impacted negatively on total October motorcycle sales. As people are concerned about a looming subsidized fuel price hike this month (causing accelerated inflation, thus curbing people’s purchasing power), consumers postpone the purchase of a motorcycle. The government is expected to raise prices of subsidized fuels by almost 50 percent.
Motorcycle sales in Indonesia increased 16.0 percent month-on-month (m/m) to 711,857 units in September 2014. Sigit Kumala, Chairman for Commercial Affairs at the Indonesian Motorcycle Association (AISI), said that improved motorcycle sales are caused by the start of the harvest season in several regions across Southeast Asia’s largest economy. Successful harvests have put downward pressure on commodity prices and thus have a positive impact on Indonesian’s purchasing power.
The Asean Automotive Federation (AAF) stated that motorcycle sales growth in the ASEAN region was recorded at 5 percent (year on year) in 2013. Motorcycle sales rose from 10.52 million units in 2012 to 11.09 million in 2013. It is interesting to note that motorcycle sales in Indonesia accounted for 70 percent of total motorcycle sales in the ASEAN region last year. Indonesian sales ammounted to 7.7 million units, followed by Thailand (2 million), Philippines (752,835), Malaysia (546,719) and Singapore (11,650).
Indonesian motorcycle sales in February only increased by 0.51 percent to 653,357 units compared to the previous month. This figure is regarded as a rather disappointing amount by the Indonesian Motorcycle Industry Association (AISI). A spokesman of the association said that Indonesians are postponing the purchase of a motorcycle, and instead spend their income on daily consumer goods.
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The Indonesian Motorcycle Industry Association (AISI) says Indonesia's motorcycle exports should rise by 50 percent (y/y) to around 342,000 units in 2016. Gunadi Sindhuwinata, General Chairman of the AISI, stated that Indonesia's motorcycle exports have been impressive so far this year, rising 76 percent (y/y) to 97,778 units in the January-April 2016 period. This impressive export performance is supported by the choice of several global motorcycle manufacturers to make Indonesia their production hub for specific motorcycles.
Domestic sales of motorcycles in Indonesia fell 11 percent to 580,288 units in January 2014. The main reason for this decline in the first month of the year were severe floods brought about by high rainfall amid a peak of the rainy season. These weather conditions disrupted the distribution of motorcycles from factories to dealers. As a result, all motorcycle brands recorded lower sales figures according to data released by the Indonesian Motorcycle Industry Association (Aisi). However, more factors were at play.
Domestic sales of motorcycles in Indonesia are expected to have fallen by 20 percent to 550,000 in December 2013 compared to the previous month (688,527). According to the Chairman of the commercial department of the Indonesian Motorcycle Industry Association (AISI), Sigit Kumala, this decline is not the result of slowing demand for motorcycles but due to the limited amount of working days amid the Christmas and New Year holidays. This then led to less production and distribution of motorcycles to Indonesian dealers.
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