Indonesia's car-makers association Gaikindo said Tuesday sales target this year has been lowered due to continued slumps in monthly sales that allow Malaysia to surpass Indonesia as the second largest auto market in Southeast Asia.

"We managed to sell more than 500,000 units last year, placing Indonesia as the second largest auto market (in Southeast Asia). But Gaikindo has decided to revise the sales target downward to between 320,000 and 350,000 this year," Gaikindo Chairman Bambang Trisulo said at a news conference here.

Thailand is the region's largest market with annual sales of around 700,000 units.

"We initially hoped to maintain sales at some 400,000-500,000 units this year with an expected reversal in April or May. But until five months this year total sales grew slowly to some 150, 000 units," he said.

Producers have blamed high bank interests and fuel prices rises for the sluggish auto market this year.

Source: Xinhua