Comparative Analysis of Financial Performance Of Automotive Subsector Companies on The Indonesia Stock Exchange Before and During The PPnBM Policy

Abstract

This study aims to analyze the comparison of financial performance of automotive subsector companies listed on the Indonesia Stock Exchange (IDX) before and during the implementation of the Luxury Goods Sales Tax (PPnBM) policy. The PPnBM policy was established as a stimulus to encourage the sale of motor vehicles that experienced a significant decline due to the pandemic. The research method used is quantitative analysis with a comparative approach, where the company's financial data is analyzed using financial ratios such as Gross Profit Margin, Current Ratio, Debt To Equity Ratio, and Total Assets Turn Over. The data used are the financial statements of automotive companies for the period before (2018–2020) and during the implementation of the PPnBM policy (2021-2023). The research results show that there is no significant difference in financial performance before and after the PPnBM policy from the calculations of Gross Profit Margin and Current Ratio. Debt To Equity Ratio and there is a significant difference in the Total Assets Turnover ratio.