The domestic wholesales of cars continued their upward trend in November, driven by pent-up demand as economic activity starts picking up.
Car wholesales rose by 9.84 percent month-to-month to 53,844 vehicles in November, according to Indonesian Automaker Association (Gaikindo) data compiled by diversified conglomerate PT Astra International circulated on Tuesday.
Despite the rise, the figure was still down by nearly 41 percent from 91,240 cars sold in November last year. This led to a shrinking market share for Astra International, from 52 percent in 2019 to 45 percent this year.
“[Wholesales] are still hovering at around the 50,000 level, which is good enough,” Gaikindo secretary-general Kukuh Kumara told The Jakarta Post in a phone interview on Wednesday. “The figure should have been higher because logistical and transportation needs do still exist.”
Results and Dividends
As shareholders will be well aware, this has been an extraordinary six months, as the world battled the pandemic spread of the COVID-19 virus. After initially imposing draconian restrictions on movement, governments are gradually relaxing social-distancing measures and, supported by unprecedented monetary and fiscal stimulus, a global economic recovery appears to be underway. Asian markets were surprisingly positive against such a challenging backdrop, with the benchmark MSCI All Countries Asia Pacific ex Japan Index rising by 18.1% in total return terms over the half year to 31 October 2020. In comparison, the Company s net asset value ( NAV ) total return was 21.4%, pleasingly ahead of the benchmark, a testament to the quality and resilience of the portfolio s holdings.
Waresix acquires Trukita to connect more of Indonesia’s fragmented logistics chain
Andree Susanto, CEO and co-founder of Waresix, left, with Ady Bangun, CEO and co-founder of Trukita
Waresix, one of Indonesia’s largest logistics startups, has acquired Trukita, a company that focuses on the “first mile.” The term refers to the part of the supply chain where goods are transported from ports to warehouses.
Both Waresix and Trukita operate by connecting businesses to shippers and warehouses, and the acquisition will enable them to lower customer costs. While Waresix’s platform digitizes all parts of the supply and logistics chain, its current focus is on mid-mile logistics services, or transportation from warehouses to distributors.
The domestic wholesales of cars continued their upward trend in November, driven by pent-up demand as economic activity starts picking up.
Car wholesales rose by 9.84 percent month-to-month to 53,844 vehicles in November, according to Indonesian Automaker Association (Gaikindo) data compiled by diversified conglomerate PT Astra International circulated on Tuesday.
Despite the rise, the figure was still down by nearly 41 percent from 91,240 cars sold in November last year. This led to a shrinking market share for Astra International, from 52 percent in 2019 to 45 percent this year.
“[Wholesales] are still hovering at around the 50,000 level, which is good enough,” Gaikindo secretary-general Kukuh Kumara told The Jakarta Post in a phone interview on Wednesday. “The figure should have been higher because logistical and transportation needs do still exist.”