Toyota Indonesia’s car exports likely to fall 40-50 percent in 2020
Toyota's vehicle exports from its manufacturing facilities in Indonesia are forecast to drop by 40-50 percent in 2020 due to the impact of the COVID-19 pandemic.
Jakarta (VNA) - Toyota's vehicle exportsfrom its manufacturing facilities in Indonesia are forecast to drop by 40-50percent in 2020 due to the impact of the COVID-19 pandemic.
Speaking at an online workshop in Jakarta this week, President Director of PT Toyota Motor Manufacturing Indonesia (TMMIN) WarihAndang Tjahjono said the COVID-19 pandemic has been affecting the firm’s carproduction since April when domestic and export demand plummeted.
According to the Indonesian automobile manufacturers association (Gaikindo), the domestic consumption hasdecreased by 40 percent in 2020 to about 600,000 units, compared to 1.03million units in 2019.
Meanwhile, exports have also declined as importing countries in the MiddleEast, South America and Africa have been also affected by the pandemic. It isestimated that the volume of exported cars will drop by 40 percent compared to2019, reaching only 208,000 units.
TMMIN hoped that the Indonesian government will take measures to encourage its peopleto buy cars, as well as directly support the automotive industry such asreducing PPh21 tax to 30 percent so that the domestic market can grow in thetwo remaining quarters of 2020./.
Indonesian Trade Minister Agus Suparmanto said that the country has outlined a strategy to facilitate exports, which have strongly dropped in recent times.
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The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
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Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
Illustrative image (Photo: //english.nna.jp/) 
