Indonesia's Q1 car sales up 10.6% 

(MENAFN) The Indonesian Automotive Industry Association (Gaikindo) said that during 2012's first quarter, car sales in the country grew 10.6 percent over 2011's same period, reported Xinhua News.

The association added that in the period, car sales reached 249,589 units, compared with 225,739 units in the same quarter a year earlier.

It also said that car sales are averaging nearly 80,000 per month; furthermore, around 960,000 cars are forecasted to be sold in the country during the current year.

It is worth noting that the Indonesian government had set higher down-payment requirements for car loan that is scheduled to go into effect in mid 2012, under which banks ask for a down payment of 30 percent from consumers who want to purchase cars through loan.