Automotive - Motor sales in Feb ‘26 increased

Automotive - Motor sales in Feb ‘26 increased The Indonesian motorcycle market is hitting the gas at the beginning of 2026. Based on the latest data from the Indonesian Motorcycle Industry Association (AISI), domestic distribution figures recorded a positive trend in the first two months of this year. It was recorded that the total motorcycle sales in the January-February 2026 period reached 1,165,117 units. This figure represents an increase compared to the same period in 2025, which recorded 1,141,578 units. This means that, on a year-to-year basis, our motorcycle market has grown by approximately 2.06%. AISI sees the domestic motorcycle market still has the potential to continue growing despite the various economic challenges that this nation must face. The association project that the domestic motorcycle market will remain relatively stable this year at 6.4 mn-6.7 mn units. (Source : Oto Detik) Comment : Despite the low based effect, we still like the 2W market overall positive sales volume growth. The market is "cruising" rather than "sprinting." The 2.06% growth is a healthy sign of economic stability, but the industry is bracing for a year where consumer caution might outweigh the desire for new upgrades. Several headwinds such as: consumer confidence, purchasing power level, financing sensitivity, and geopolitical ripples will remain as several challenges. In all, we believe the motorcycle market sales volume could continue to record higher growth this year, despite at a mild rate. Maintain Neutral rating on the sector.