Exports Of Automotive Components Up

Jakarta, Sept 6 (ANTARA) - Exports of automotive components were up 8.8 percent from January to July from the same period last year, according to the chief of the Automotive Components Industry Cooperatives (KIKO), M Kosasih, here on Wednesday. "In the past seven months automotive components exports rose 8.8 percent to 32.1 million from 29.5 million in the same period last year. Prospects of automotive components industry is promising in line with increasing auto sales," he said. Kosasih said the export hike had happened since last year up to 135 times with total shipments abroad reaching 48.17 million components from 353,950 in 2010. "Domestic auto market this year has shown a positive trend. Car sales in the first seven months this year reached 637,778 units and they are expected to surpass one million by the end of the year despite fear over the impact of the regulation requiring a higher minimum down payment for car credits," he said. Domestic automotive component industries mostly supply original equipment manufacturing needs to meet domestic as well export demands, he said. "Around 70 percent of automotive components are supplied to meet original equipment manufacturing needs while the rest for meeting after sales market," he said. Kosasih said the growth of components exports was proof that domestic products could compete in the global market. "In July exports of components reached the height with a total of shipments reaching 5.93 million parts which was the highest in the history of automotive components industry in Indonesia. The exports grew 42.67 percent from 4.17 million parts in the same period last year," he said.