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.


Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...