Bisnis.com, JAKARTA— The Financial Services Authority (OJK) noted that motor vehicle financing is still increasing as of September 2024. The condition of motor vehicle credit is inversely proportional to motor vehicle sales data in the same period.  Meanwhile, the Association of Indonesian Automotive Industries (Gaikindo) noted that wholesale car sales fell 9.1% on an annual basis (year on year/yoy) to 72,667 units as of September 2024. The figure for retail car sales or from dealers to consumers also fell by 10.6 % to 72,366 units. On the other hand, the Indonesian Motorcycle Industry Association (AISI) noted that domestic motorbike sales decreased to 514,460 units or down 2%. Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions (PVML) OJK, Agusman, revealed that principal motor vehicle financing receivables as of September 2024 had increased by 9.93% yoy to IDR 408.72 trillion.  "This shows that financing distribution is still growing positively amidst the decline in motor vehicle sales," said Agusman in his written answer quoted on Friday (8/11/2024).