ASII - Oct 4W sales growth at 21.4% yoy

Astra International (ASII) total 4W sales reached 468.290 unit. With a total industry car sales at 851.413 unit, ASII remain dominating the competition landscape with market shares of 55%. On oct22 standalone at 54.826 unit, or higher vs 41.729 unit in Oct 21. (Source: Bisnis Indonesia). Comment: We believe 4W sales will continue solid this year. We forecast ASII to record 4W sales at 536.963 unit, with a market shares of 56.1%, bringing the totla domestic car sales to record around 7.8% yoy sales growth to 956.658 unit.