Bahana Securities Research Analyst (Jakarta Post today)
Based
on sales figures released by Gaikindo (4W Association) and AISI (2W Association),
August 4W sales of 77,961 units were down 31% m-m but up 2% y-y, with 2W sales
of 488,983 units down 30% m-m but up 14% y-y (exhibits1 & 2),
due to fewer working days in August on the back of Lebaran holidays.
ASII
booked monthly sales of 38,776 units, down 33% m-m and 2% y-y, reflecting a
smaller market share of 49.7% (Jul-13: 51.2%; Aug-12: 51.7%). This is partly caused by Mitsubishi’s strong
sales of 10,847 units, down 25% m-m but up 14% y-y, helped by strong commercial
segment (trucks and pickups) sales, and Suzuki’s 12,006 units, down 29% m-m but
up 19% y-y due to high demand for the Ertiga model. For Nissan, we see 15% lower y-y sales to
4,500 units on tight competition.
Over
to 2W: Honda’s August sales reached 294k units, down 29% m-m but up 12% y-y,
while Yamaha sales increased to 153k units, down 33% m-m but up 15% y-y. In 8M13, Honda market share reached 60.1%,
higher than 8M12’s level of 57.5%.
