Encouraging Year-End Automotive Sales, Mandiri Utama Finance Becomes Main Sponsor Of MUF GJAW 2024

Photo: Doc. Mandiri Main Finance (MUF)

JAKARTA - PT Mandiri Utama Finance (MUF), a subsidiary of PT Bank Mandiri (Persero) Tbk. again shows its commitment as a leading vehicle financing company in Indonesia by becoming the main sponsor of the 2024 MUF Gaikindo Jakarta Auto Week (MUF GJAW), the largest automotive exhibition at the end of the year in Indonesia. The event which took place at the Indonesia Convention Exhibition (ICE), BSD, Tangerang, from 22 November to 1 December 2024 presents various innovations and attractive offers for visitors.

This exhibition is an important momentum for the public to get dream vehicles with various facilities and attractive promos. With more than 80 vehicle brands and supporting industries, the 2024 MUF GJAW is expected to encourage the growth of the national automotive industry at the end of the year.

President Director of PT Mandiri Utama Finance, Stanley Setia Atmadja, was present at the official opening of this exhibition. In his remarks, Stanley said that the 2024 MUF GJAW is expected to be a catalyst for the growth of the national automotive industry. He also emphasized the vision of MUF to continue to support the Indonesian automotive industry with innovative financing solutions that prioritize digital technology.

"The 2024 GJAW MUF is the biggest automotive sales event at the end of the year that we support to help people realize their dream vehicle. Our presence here reflects MUF's commitment to providing the best financing solutions and strengthening the automotive industry ecosystem in Indonesia," he said.

As part of digital transformation, at the 2024 MUF GJAW event, MUF introduced a number of innovative solutions to provide easier, faster, and more convenient financing experiences. Some of the leading digital innovations featured during the exhibition include:

MUF Online Auto Show (MOAS): Digital financing platforms for conventional vehicles, allows customers to search for vehicles and apply for online financing at any time and anywhere. USAH BSI OTO: Digital-based sharia financing solutions that offer convenience and transparency for customers who prioritize sharia principles. Livin' by Mandiri: Integration of MUF financing services with Bank Mandiri super apps to facilitate transactions. MUF Online Assistant (MONA): 24-hour customer service per day that can provide fast and easy information services.men's mufapp: Multifunction applications that make it easier to apply for financing, credit simulations, tracking submission status, to buying and selling vehicles.

"As the main sponsor in the 2024 MUF GJAW, MUF not only wants to support this event, but also hopes to play an active role in digital transformation in the automotive financing sector. We believe that digital transformation is the key to simplifying and accelerating processes for consumers who want to realize their dream of owning a vehicle, while maintaining the best quality of service," said Stanley.

As part of the commitment to support the clean energy transition, MUF provides financing for electric and hybrid vehicles, making it easier for people to own environmentally friendly vehicles.

Stanley said that at the 2024 MUF GJAW, visitors can also explore various units of electric and hybrid vehicles from various well-known brands on display at the location. This event provides potential buyers with the opportunity to try electric vehicles through a test drive facility.

As of October 2024, MUF has disbursed electricity and hybrid vehicle credit financing of IDR 797.3 billion, an increase of 359 percent compared to the same period last year which amounted to IDR 173.9 billion. This electric vehicle financing contributed 4.5 percent to the total MUF financing, larger than the same period last year of 3 percent.

"The commitment of MUF in increasing the distribution of electric vehicle financing is in line with the government's target of achieving the net zero emission target by 2060," said Stanley.

Yanto Tjia, the MUF SEVP Marketing explained various interesting promos that MUF can offer during the 2024 MUF GJAW.

This promo is also available for financing with both conventional and sharia schemes. For car financing, visitors can enjoy interest or margins ranging from 1.99 percent, admin costs ranging from IDR 1, and e-voucher prizes worth IDR 1.5 million, SPK prizes of up to IDR 3.8 million, as well as third party TJH insurance of up to IDR 10 million for car purchases and self-accident insurance worth IDR 10 million for motorcycle purchases.

Visitors can also enjoy test drive facilities provided during the 2024 MUF GJAW event for various vehicle models. Visitors can also consult with the MUF team to get the best financing solutions.

"We present a special series of promos at this event to support national automotive sales through easy and affordable financing services. MUF targets the distribution of financing during the MUF GJAW 2024 event to reach Rp250 billion," said Yanto.

In terms of financial performance, Rully Setiawan, MUF Director of Finance and Risk Management said that until October 2024, MUF had recorded excellent performance. The total distribution of MUF financing reached IDR 17.6 trillion, growing 6.1 percent year-on-year (YoY).

This disbursement of financing is dominated by new car financing which accounts for 46.8 percent of the total portfolio. MUF receivables reached Rp34 trillion, growing 15.4 percent YoY. Meanwhile, the Non-Performing Financing (NPF) rate fell to 1.31 percent, better than last year's October of 1.52 percent.

"This achievement reflects MUF's success in maintaining healthy and sustainable business growth while strengthening its position as the leader of the vehicle financing industry in Indonesia," said Rully.