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Fuel price hikes not expected to hamper automotive sales growth
uusjio | May 21, 2008 at 05:09 pmby
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A number of automotive industry executives are optimistic the 28.7-percent increase in fuel oil prices planned by the government will not hamper growth in car sales in Indonesia which this year are expected to surpass 500,000 units.
"We are optimisic that demand for cars in Indonesia will go up continuously in the medium and long terms," PT Krama Yudha Tiga Berlian (KTB) President Director Fumio Kuwayama said here Wednesday.
Speaking to reporters on the sidelines of the launching of KTB`s newest product, the Mitsubishi Strada Triton Exceed, he said he was sure the buying power of most people in Indonesia with a per capita income of nearly 2,000 US dollars per year was still high because the country had an abundance of natural resources, including alternative energy sources such as coal and gas.
"We are sure Indonesia will benefit from the increasing world crude price because it has a lot of energy and natural resources," he said.
Kuwayama said ...