When the directors of Astra International, which produces most vehicles sold in Indonesia, met late last year to set sales projections for 2009, the mood was very gloomy.

“We thought [sales of] cars would fall by a third to a half and [of] motorbikes by around 20 per cent,” said Johnny Darmawan, the head of Toyota Astra Motor. “Admittedly last year was a record year on the back of soaring palm oil and coal prices but the outlook was very bleak.”