- Automotive: Electric car sales increase significantly in 8M24
Based on data from Gaikindo, national wholesale sales of electric cars reached 23,045 units in 8M24 (+177.32% yoy). Electric cars now contribute 4.11% to total national wholesale car sales of 560,619 units in 8M24. The growth was greatly helped by the 1% VAT incentive policy as well as exemption from import duties and PPnBM on imports of CBU electric cars from the government. This incentive has an impact on reducing the selling price of electric cars in Indonesia. Currently, 18 brands are marketing electric cars in Indonesia, both locally produced and imported CBU from other countries. (Kontan) - ACES recorded 11.1% SSSG on Aug 24
Aspirasi Hidup Indonesia (ACES IJ) achieved 11.1% SSSG on Aug 24, fueled by strong regional performance. Areas outside of Java led the way with a 14.9% year-over-year increase, followed closely by Java regions outside of Jakarta at 10.7%. Jakarta also saw a positive trend with a 5.9% SSSG. This strong performance contributed to a cumulative SSSG 8M24 reaching 9.9% yoy, surpassing the guidance of 7%. The company expects a solid SSSG performance on Sep 24 with a promotional theme revolving around #BisaLebihChill or its English #CanBeMoreChill, focusing on hobbies and relaxation-related products. Regarding store expansion, AHI has successfully opened a new outlet in Mall Puri Indah, occupying an area of 1,400 square meters. This expansion brings the total number of stores to 241. (ACES)