Stricter lending rules could impact car sales, such as locally built Hyundai Grand Avega.
The Indonesian Automotive Manufacturers Assn. (Gaikindo) cuts it 2012 sales forecast 7% as the government prepares to introduce tighter lending rules for vehicle buyers. Starting June 15, the minimum down payment for vehicle purchases jumps from 5% to 30%. The Jakarta Post newspaper reports the Bank of Indonesia and the Capital Market and Financial Institution Supervisory Agency say the policy is needed to prevent potential loan defaults should the Indonesian economy ...
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