KONTAN.CO.ID - JAKARTA. Car sales showed an increase through the first half of this year. However, car financing disbursements by multi-finance companies declined.

Data from the Association of Indonesian Automotive Industries (GAIKINDO) shows that retail sales (dealer-to-consumer) reached 433,848 units through June 2026, a 10.5% year-on-year (YoY) increase. Meanwhile, total wholesale figures reached 436,564 units through June 2026, up 15.9% YoY.

Data from the Financial Services Authority (OJK) indicates that financing disbursements for new and used cars within the multi-finance industry contracted by 3.25% YoY, totaling IDR 230.47 trillion as of June 2026.

In response, PT CIMB Niaga Auto Finance (CNAF) assesses that the rise in car sales amidst the contraction in car financing demonstrates that vehicle market dynamics do not rely entirely on financing from multi-finance companies.

CNAF President Director Ristiawan Suherman stated that several factors influence this situation, including the availability of banking-based financing schemes, shifts in public preferences, and consumer purchasing power.

"Furthermore, the continued contraction in car financing disbursements reflects that consumers today tend to be more selective in making purchasing decisions, particularly when considering their financial capacity and payment commitments," he told Kontan on Thursday (August 13, 2026).

Ristiawan explained that this situation is part of industry dynamics requiring a response through financing strategies that prioritize prudence while simultaneously meeting consumer needs.

For the remainder of 2026, Ristiawan projects that the car financing industry will continue to face challenges related to adjustments in public purchasing power and fluctuating macroeconomic conditions. Nevertheless, CNAF continues to see growth opportunities, given that the demand for modes of transportation will persist.

Another factor is the increasingly dynamic automotive market, driven by a wide range of vehicle options that offer competitive features and better align with consumer needs and preferences.

"These conditions present an opportunity for multifinance companies to continue driving growth by offering financing solutions that are relevant and tailored to market needs," he said.

Ristiawan stated that as of June 2026, CNAF's car financing disbursements—covering both new and used vehicles—totaled IDR 2.7 trillion.