Automotive - Exceeding expectations, IIMS 2026 records total transactions of IDR8.7 tn

Automotive - Exceeding expectations, IIMS 2026 records total transactions of IDR8.7 tn The Indonesia International Motor Show (IIMS) 2026 automotive exhibition recorded transactions amounting to IDR8.7 tn over the 11-day event period from February 5-15, 2026. The figure is higher than the exhibition's target, which was set at IDR8 tn, held at JIExpo Kemayoran. For comparison, at IIMS 2025 held from February 13, 2025, to February 23, 2025, at the same location, a total transaction of Rp8 trillion was recorded, with 22,322 vehicle order letters (SPK) achieved over 11 days. IIMS 2026 will also hold exhibitions in several major cities in Indonesia, such as in Surabaya on May 26-31, 2026, at Grand City Hall. Beside Surabaya, the IIMS Series will be present in Balikpapan thru IIMS Balikpapan on October 21-25, 2026, at BSCC Dome Balikpapan. Then, the IIMS Series 2026 will be concluded by IIMS Garage Manado on November 4-8, 2026, at Manado Town Square. (Source : Bloomberg Technoz) Comment : The exhibition demonstrated steady year-on-year (YoY) growth, successfully transitioning from the baseline set in 2025. IIMS 2026 was not just a trade show; it was a high-conversion sales engine. The momentum suggests that the 2026 automotive market in Indonesia is likely starting with a "hot" hand, which could lead to a record-breaking year for national car sales (Gaikindo) if macroeconomic conditions remain stable. Despite demand pressure due to a potential stagnant purchasing power could sustain, we still expect FY26 total 4W sales could reached better than FY25 figure. Maintain Neutral for the sector and Maintain BUY ASII SOTP TP of IDR7,050 (8.6x ‘26F P/E).