Company executives have said that U. S. automakers Ford and General Motors have their eyes on Indonesia as a car market with growing potential.

He was "very, very optimistic" that the Indonesian market would blossom this year, said President of GM International Operations Tim Lee.

The Detroit Free Press reported on Tuesday that Will Angove, president of Ford Motor Indonesia said, "There's a stable democratic government in place, which is in its second term (and) interest rates are at an all-time low."

"People are feeling pretty good about things" in the fourth largest country in the world by population, Angove further said.

According to Lee, GM was aiming to capture 10 percent market share in Indonesia, where GM's current market share is about 1 percent.

It has been reported that GM sold 2,616 vehicles in Indonesia in 2009 with 33 dealerships. Ford last year sold 6,477 vehicles in the country with 35 dealerships.

The first quarter of 2010 was dominated by Toyota, which controls 58 percent of the market share in a market expected to grow from 483,000 vehicle sales in 2009 to 1.3 million by 2015, J. D. Powers and Associates have said. (With Inputs from Agencies)