THE INFLUENCE OF GDP, INFLATION, AND INTEREST RATE TOWARD REVENUES OF INDOMOBIL SUKSES INTERNASIONAL (IMAS)

Abstract

There was no significant effect on the sales of Indomobil Sukses Internasional (IMAS) from 2013 to 2016 even though Indonesian middle-class income and number of car transportation were steadily increasing each year. This paper aimed to examine the relationship between some factors that affected the revenues of IMAS. The researcher used GDP, Inflation, and Interest Rate as independent variables and IMAS revenues as the dependent variable. Those independent variables will represent Income, Price of cars and related goods as some variables that will determine demand which in turn will also affect the sales of a product. The data collection is from secondary data obtained through IDX, Federal Reserve Bank of St. Louis, and Badan Pusat Statistik (BPS) database. This research will be using quantitative method with non-probability sampling which convenience sampling that is resulting in 32 data from 2009 to 2016 for observational data. The method of data analysis includes Normality Test for data distribution and error, Linear Regression Analysis, Classic Assumption Test; Autocorrelation, Heteroscedasticity, Multicollinearity and hypothesis testing through T- test, and coefficient of determination (adjusted R2). This study resulted in all three independent variables have simultaneous significant effect toward revenues of IMAS. However, only GDP and inflation had partial significant influence toward the revenues. It might be due to the Central Bank’s revision on loan to value ratio (LTV), and financing to value ratio (FTV) that causes interest rate had no significant effect toward revenues of IMAS.