KONTAN.CO.ID - JAKARTA. The Association of Indonesian Automotive Industries (Gaikindo) recorded wholesale car sales in the January-April 2025 period reaching 256,368 units, or down 2.9% Year on Year (YoY).

Meanwhile, retail car sales in the January to April 2025 period fell 7.7% YoY to 267,514 units.

Regarding this, the Financial Services Authority (OJK) revealed that the decline in vehicle sales could have an impact on the distribution of new vehicle financing for multifinance.

Therefore, the Chief Executive of the Supervisory Board of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions of OJK Agusman encouraged multifinance companies to diversify their portfolios as a smart solution.

"The decline in motor vehicle sales can certainly have an impact on the slowdown in financing for new vehicles by multifinance. Therefore, the multifinance industry continues to be encouraged to expand its portfolio to other productive sectors," he said at the OJK RDK press conference, Monday (2/6).

Agusman added that portfolio diversification to other productive sectors in question, such as heavy equipment, renewable energy, and electric vehicles. Furthermore, he also encouraged the multifinance industry to strengthen risk management, efficiency, and governance, so that the diversification strategy runs prudently and sustainably.

With an adaptive and collaborative approach, Agusman believes the multifinance industry can maintain stability and continue to grow positively this year.

For information, based on industry performance, OJK noted that multifinance company financing receivables reached IDR 504.18 trillion as of April 2025. The value of financing receivables as of April 2025 grew 3.67% YoY.

Meanwhile, OJK targets that financing receivables from the financing industry or multifinance can grow by 8%-10% in 2025.