Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Indonesia’s automobile sales will experience slightly recovery in 2021: Fitch Ratings reports

Indonesia’s automobile sales will experience slightly recovery in 2021: Fitch Ratings reports

Fitch Ratings has reported that the automobile sales in Indonesia will recover only in 2021, and also, it will not reach the 1 million units number that was achieved in 2019 any time soon.  The rise in unemployment and weak purchasing power will significantly affect the demand for automobiles, and this will be even more affected due to the restricted movements. The Association of Indonesia Automotive Industries has also considerably lowered its car sales expectations. The government's new initiatives to trigger demand for sales are also significantly less due to the ongoing Covid 19 pandemic. Fitch has forecasted that the 4W sales in 2021 will be lower than the numbers achieved in 2019.

Improvements were seen in June 2020; however, the fundamental demand for the same remains null. The pandemic's uncertain nature has forced people to curb their spending, and this includes car purchases. The recovery trajectory also failed to gain momentum in October, and the rise in the number of Covid cases also affected the sales. Recently there was a rate cut done by the Bank Indonesia, but that will not benefit the sales of 4Ws as the customers are still unsure about making large purchases any time soon.


Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...