Passenger Car Tyre Market in Jakarta and Surabaya Worth almost USD29 Million in Retail alone for First Quarter of 2010: GfK Indonesia
2010-05-03 12:25
Popularity of Performance and Luxury Tires on the Rise
JAKARTA, Indonesia, May 3 /PRNewswire-Asia/ -- With the Indonesian automobile market forecasted for strong growth in 2010, automotive parts manufacturers here can also look forward to boom times in the coming months. According to GfK Indonesia's retail tracking of passenger car tires, demand for replacement car tires has been on the rise since mid- 2009. In Jakarta and Surabaya alone, consumers bought 405,880 car tires worth approximately USD28.9 million in the first quarter this year, translating to about 135,530 passenger car tires being sold every month in both cities.
"GfK findings recorded a considerable 11.1 percent hike in sales value of replacement passenger car tires in Q1 2010 as compared to Q3 2009. However, passenger car tires only registered a much lower 4.8 percent in unit growth during that same period, indicating that consumers are increasing their unit spend on car tires," commented Mr Guntur Sanjoyo, General Manager of GfK Indonesia.
The average price of tires has been on the rise in recent months, costing USD71 now as compared to USD64 six months ago. GfK's reports reflect rising demands for 17" and above car tires since mid-2009, with corresponding dips registered in smaller rim tires, especially in the 13" sized ones.
"With the current trend of car-owners 'inching-up' their rides to the more expensive, larger diameter tire rims for aesthetic and handling reasons, more auto makers have also started to introduce original equipment fitments with larger rim diameters to cater to today's discerning customers" observed Mr Sanjoyo.
"Looking at the improving economic conditions globally, we can quite confidently predict a brighter and more dynamic outlook for the automotive industry for the rest of 2010," concluded Mr Sanjoyo.
About GfK Automotive Retail Audit
GfK's first started retail audit for the Automotive panel in Europe as early as the 1980s. In 2009, GfK Asia introduced retail audit for passenger car tires in Malaysia, Indonesia and South Korea, with the service to commence in Singapore, Thailand and Philippines in 2010. The company also conducts retail audit of passenger car engine oil in Malaysia and will commence the service in Indonesia as well this year. Retail audit for motorcycle engine oil is now available in Vietnam.
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SOURCE GfK Asia Pte Ltd