Unless BYD roll out hybrids, I think their market share figure here in Indonesia will remain at a sad single digit. Sadly, there isnt any indication of them getting to do so. The most common models I see here is the SEAL, which at IDR 755m price point, is uber expensive sedan only for the rich. The newly launched M6 lose out in aesthetic and size to the Toyota Innova which are now available in hybrid.
Apologies for digging up a post from a couple of months ago, but I was recently looking at some Indonesian automotive sales data for the current year and found it all rather fascinating.
The first thing that struck me is just how concentrated the Indonesian automotive market is. Bearing in mind that Daihatsu is now wholly owned by Toyota, the two brands combine to give Toyota Motor Corporation some ~55% of total sales! In that context, for BYD or any other brand to
also achieve double-digit market share is a daunting task, and indeed Honda is the only other brand that meets that criteria. Given the low-level of electrification that Indonesia is building from, it seems just about impossible for BYD to achieve double-digit market share in the short-term. Indeed, even if every EV sold in Indonesia was a BYD, they would still command less than 5% market share! By way of comparison, Toyota is the only brand in Australia with double-digit market share, commanding 19.5% of sales YTD (or 20.6% including Lexus, Daihatsu exited Australia in the mid-2000s). Ford is #2 at 8% and obviously it goes downhill from there.
The other thing that sticks out is that, although 2024 is a down year (-15%) for the Indonesian market as a whole, it seems to have been a very good year for Chinese brands and for the growth of EV sales, the great majority of which are from Chinese brands. Even Wuling as the leading Chinese brand (#7 overall) is down only 2.5%, while BYD has immediately secured a place in the Top 10 and Chery is there also after nearly doubling sales compared to 2023. So the green shoots do seem to be there for a promising future for Chinese brands in Indonesia.
Also, what is the best public source for Indonesian sales data? In my browsing I have encountered several sites presenting somewhat different figures (variation ~10%) despite ostensibly describing the same period. Is all the data ultimately coming from Gaikindo or is there a second source?