Indonesia’s car sales to bounce back in March, manufacturers contend

first_imgPresident Joko “Jokowi” Widodo announced on Monday the country’s first confirmed COVID-19 cases, prompting efforts by the government and financial authorities to cushion the economy from any possible hit.Read also: Auto industry poised to recover after sales hit brakes in 2019Currently, the government is preparing a stimulus package to ease export and import regulations as supply chains are expected to start getting hit by the virus spread. The stimulus will be the second of its kind after a Rp 10.3 trillion (US$725 million) package announced earlier for boosting private consumption and the tourism sector.Industry Minister Agus Gumiwang Kartasasmita said he was confident that the local industry had enough automotive parts despite the outbreak that disrupted factories’ activities in various countries, mainly in China.“According to a Gaikindo members’ report, their supply chains face no problems so far and the industry has enough stockpiles to continue production for the next three to four months,” he said.The Asian Development Bank (ADB) president Masatsugu Asakawa said in Jakarta on Wednesday that he believed Indonesia was less likely to experience a strong impact from the global outbreak than other countries in the region, such as Japan or Thailand.“Indonesia isn’t deeply integrated into the global supply chain, so it is still considerably fortunate compared to other countries,” Asakawa said, adding that the Indonesian economy which was primarily driven by domestic activity was at an advantage during the global health emergency.The country’s economy grew by 4.97 percent in last year’s fourth quarter, the slowest rate in three years, as investment and exports cooled. Following the outbreak, the government expects growth to slow to 4.7 percent in this year’s first three months.Read also: COVID-19 impact far more complex than 2008 crisis: Sri MulyaniDespite these challenges, Mitshubishi Fuso truck distributing company PT Krama Yudha Tiga Berlian Motors (KTB) maintained its positive outlook for 2020.“We project truck sales for the domestic market will increase by 7 percent,” the company’s marketing director Duljatmono said, adding that the company aimed to sell 46,900 trucks and acquire 46 percent of the market share for trucks in 2020. (mpr) Indonesia’s automotive manufacturers have expressed optimism that national car sales will soon bottom out and show a rebound as early as March despite a further drop in January and risks posed by the COVID-19 outbreak.The country’s car sales stood at 1.03 million units last year, a 10.8 percent drop compared to a year before, according to data from the Association of Indonesian Automotive Manufacturers (Gaikindo). The association blamed sluggish sales on political uncertainties due to the 2019 general elections that hold people off from buying big-ticket items, such as cars.Sales further dropped in January amid heavy flooding that struck several regions in the country, especially Jakarta and a novel coronavirus outbreak but the association maintained its target of selling 1.05 million cars this year. Topics :center_img Read also: Astra International profits hit by lower car sales, commodity prices“While the COVID-19 spread has adversely affected sales, the absence of a political agenda and a subsiding trade war has supported the automotive industry,” Gaikindo chairman Yohannes Nangoi said at the Gaikindo Indonesia International Commercial Vehicle Expo (GIICOMVEC) 2020 opening ceremony in Jakarta on Thursday.“I expect car sales in February to remain flat compared to January. Hopefully, they will recover in March,” he added.The pneumonia-like illness has infected almost 100,000 people in around 85 nations and killed more than 3,300 worldwide, disrupting economic activities in countries around the globe.last_img read more

Shafer: Hunt exploring academic options while recovering from fractured fibula

first_imgAs much as the players don’t like to hear it, Scott Shafer said, academic opportunities open up when they’re out with injuries.Terrel Hunt is experiencing that very situation as he sits out with a fractured fibula that he suffered in Syracuse’s 28-6 loss to Louisville on Oct. 3 and will sideline him for another 2-4 weeks. Hunt, a fourth-year quarterback who has one more year of eligibility, is on pace to graduate ahead of time, Shafer said at his weekly Thursday morning press conference, and is beginning to explore his academic options while he waits to return to the field.“I think Terrel’s in that frustration mode right now,” the SU head coach said. “But what we’ve tried to do is turn the page forward and say, ‘OK, you’re going to have a little bit of extra time here,’ because the rehab you can do for a broken bone is limited.”The quarterback can work toward a second degree or an SU master’s program, Shafer said, and has looked into speaking with sports management professor Rick Burton to “look at different things in his life outside of football.”“… (It’s) a healthy way of taking on a down moment and looking at the silver lining,” Shafer said. “‘Hey, I could spend some time with some very professional people that can give me guidance for the rest of my life’ … That’s part of the learning environment you get to take advantage of by being a football player.”AdvertisementThis is placeholder textAnybody who’s ever played football, Shafer added, has dealt with injuries and it’s a part of the game.When his players are unable to participate, he reminds them that they’re students too. And Hunt’s starting to make more out of an unfortunate situation.“You try to adjust to the elements as best you can and try to set a mindset forward as opposed to looking back or just waiting to get better,” Shafer said. “That’s no way. You’ve got to try to move forward with everything you do and Terrel’s fought with that a bit this week. I know he has.“But he’ll get through it because he’s a strong young man.” Comments Facebook Twitter Google+ Published on October 16, 2014 at 6:08 pm Contact Phil: | @PhilDAbblast_img read more