Astra’s Car Sales Rebound 9.7% in September, Analysts Maintain Buy Call on ASII
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JAKARTA, Investortrust.id — Astra International’s vehicle sales have rebounded 9.7% month-on-month in September 2025 to 33,535 units, even as Indonesia’s overall car market remains subdued. The company’s market share climbed to 54% from 49.5% the previous month, reinforcing its dominance in the domestic auto industry.
According to data from the Association of Indonesian Automotive Industries, or GAIKINDO, national four-wheel (4W) wholesales fell 15.1% year-on-year to 62,071 units in September, nearly unchanged from August. Cumulatively, total sales from January to September 2025 reached 561,820 units, down 11.4% from a year earlier.
Despite the downturn, PT Astra International Tbk, or ASII, managed to outperform the broader market. Its September sales increased 9.7% month-on-month, while the yearly decline was limited to 16.4%. The rebound was mainly supported by Toyota and Lexus, which saw sales rise 12.7%, and Daihatsu, which grew 7.7%.
Sales of Astra’s Low Cost Green Cars (LCGC) fell sharply by 37.4% year-on-year to 6,398 units, yet its market share in this segment improved to 76.9%. Meanwhile, non-Astra brands such as Honda, Suzuki, and Wuling reported weaker sales, while Chery surged 78.5% month-on-month and 212.8% year-on-year, becoming one of the fastest-growing competitors.
Analysts from BRI Danareksa Sekuritas view Astra’s market share recovery in September as a positive tactical signal, though not yet indicative of a full structural rebound. They noted that volume pressure may persist until Astra introduces new hybrid electric vehicle (HEV) models for the mass market.
“Given Astra’s strong brand portfolio, solid financials, and upcoming hybrid strategy, we maintain our buy recommendation with a target price of Rp 6,700 per share,” BRI Danareksa’s research team stated in its latest report.
The brokerage highlighted that Astra’s strategy focusing on total shareholder return (TSR) and hybrid product launches could support its medium-term performance amid soft industry demand. Astra shares have gained more than 21% year-to-date to Rp 5,900, and have surged over 6% in the past month.