In today’s briefing:
- Astra International (ASII IJ) – Opportunity Knocks
Astra International (ASII IJ) – Opportunity Knocks
- Astra International has seen an aggressive sell-off on fears of increasing competition from the EV space as more operators enter the Indonesian auto market, with the most recent being BYD.
- The company has successfully held its market share at 56% in FY2023 and has launched several EV models, mostly hybrids, as adoption levels for BEVs remain low.
- Management remains confident that FY2024 will be a stable year for both 2W and 4W, with overall EPS only set to decline slightly but valuations are now compelling.
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