Indonesia Autos - Recap 2024 and outlook 2025: Opsen and growth
JT DT GHWe maintain a neutral outlook for the auto sector. FY24 sales reached the lowest level since 2011
We maintain a neutral outlook for the auto sector. FY24 sales reached the lowest level since 2011
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
The wholesales of 4W market in 10M24 remained weak, with sales volume down 15% yoy to 710k units.
Indonesia’s automotive and transport sector has reported relatively strong results for 9M24 despite weak 4W s
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
Indonesia's 9M24 4W sales reached IDR232tn (-12% y-y), with 633k units sold (-16% y-y) at an ASP of IDR368mn (
Car sales in Indonesia have been sluggish — the latest sales (6MMA) at 70k vs pre-COVID normalized period of 8
In this note, we assess the growth trend of the used car market and its correlation with new car prices in Ind
DRMA margins have deteriorated in the past two quarters due to low production volume.
Astra Otoparts continues to show resilient earnings, which were driven by its trading
In autos, as discussed in our previous Anchor Report, Shifting gears —