ID - [Auto]: July car wholesale, the highest monthly sales in the last 3.5 years
Analyst: Andrey Wijaya
July 4W wholesale came in at 107,431 units (+83% MoM, +26% YoY), the highest monthly sales in the last 3.5 years. In our calculation, 7M18 wholesale reached 661,210 units (+6.9% YoY).
Based on brand, Toyota recorded the highest sales volume at 24,576 units (40.7% market share), followed by Honda (9,922 units, 16.5% market share), Mitsubishi (9,443 units, 16.45%), Daihatsu (8,463 units, 14%), and Suzuki (5,107 units, 8.5%).
Maintain Overweight on Auto sector with Astra International (ASII IJ, BUY, TP: IDR8,450) as our top pick. Notaby, in July, Astra’s Toyota Rush wholesale increased significantly after the commencement of additional Rush production capacity.
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