4W sales rebounded in February 2025, driven by IIMS (Indonesia International Motor Show) expo;

AUTOS AND AUTO PARTS Jupriadi Tan David Tjahjadi Gerald Hug

ASII booked relatively in-line results, with FY24F top line growing by 4.5%

AUTOS AND AUTO PARTS Jupriadi Tan David Tjahjadi Gerald Hugo

We analyze Astra’s investments over the past seven years – which have largely been unfruitful,

AUTOS AND AUTO PARTS ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo

We maintain a neutral outlook for the auto sector. FY24 sales reached the lowest level since 2011

Autos Auto Parts Jupriadi Tan David Tjahjadi Gerald Hugo

We cut our FY24F/25F/26F earnings estimates for DRMA by 6.5%/9.0%/9.3% on likely subdued 4W wholesales in 2024

AUTOS AUTO PARTS DRMA DRMA JK DRMA IJ Jupriadi Tan David Tjahjadi Gerald Hugo

GJAW 2024, as the third automotive expo this year, underscored the changing dynamics of Indonesia’s automotive

Autos Auto Parts Jupriadi Tan Gerald Hugo

The wholesales of 4W market in 10M24 remained weak, with sales volume down 15% yoy to 710k units.

Autos Autos Parts Jupriadi Tan Gerald Hugo

Indonesia’s automotive and transport sector has reported relatively strong results for 9M24 despite weak 4W s

Autos Auto Parts Jupriadi Tan Gerald Hugo

ASII reported 3Q24 results, with revenue at IDR86tn (+10% y-y) and NPAT of IDR10tn (+21% y-y),

Autos Auto Parts ASII ASII JK ASII IJ Jupriadi Tan Gerald Hugo

We introduce the Nusantara Series, an in-depth market research that leverages our surveys and channel checks a

Autos Auto Parts Jupriadi Tan Gerald Hugo

Indonesia's 9M24 4W sales reached IDR232tn (-12% y-y), with 633k units sold (-16% y-y) at an ASP of IDR368mn (

Autos Auto Parts Jupriadi Tan Gerald Hugo

Car sales in Indonesia have been sluggish — the latest sales (6MMA) at 70k vs pre-COVID normalized period of 8

Autos Auto Parts Jupriadi Tan Gerald Hugo

In this note, we assess the growth trend of the used car market and its correlation with new car prices in Ind

Autos Auto Parts Jupriadi Tan Gerald Hugo

DRMA margins have deteriorated in the past two quarters due to low production volume.

Autos Auto Parts DRMA JK DRMA IJ Jupriadi Tan Gerald Hugo

Astra Otoparts continues to show resilient earnings, which were driven by its trading

Autos Auto Parts AUTO JK AUTO IJ Jupriadi Tan Gerald Hugo