KONTAN.CO.ID - JAKARTA. Toyota Astra Financial Services (TAF), which is a financing business unit of Astra Financial, recorded positive performance related to financing distribution in the period January-October 2024. TAF Marketing Division Head Deby Susianti said that the company's financing distribution until October 2024 reached IDR 35 trillion.

"That value grew by 14%, compared to the achievement in the same period last year," he told Kontan, Friday (11/15).

Despite the growth, Deby said that the sluggish automotive market had quite an impact on the company's performance.

Based on data from the Association of Indonesian Automotive Industries (Gaikindo), national car wholesale sales throughout January-October 2024 still experienced a 15% Year on Year (YoY) decline to 710,406 units. In the same period last year, national car wholesale sales were recorded at 836,128 units.

Meanwhile, national car retail sales also decreased by 11.5% YoY from 825,692 units in January-October 2023 to 730,637 units in January-October 2024.

In addition, Deby said that the increasingly tight competition in the market is also a challenge in itself.

"However, TAF continues to diversify its products to stay ahead in the market," he said.

Until the end of the year, Deby explained that TAF will continue to optimize market potential and is projected to grow compared to the achievement in 2023. To achieve growth until the end of the year, he said the company continues to increase financing distribution and maintain the ratio of non-performing receivables.