0203 GMT - Indonesia's domestic car sales came in at 61,849 units in January, down 11.3% on year and marking the 19th consecutive month of decline in volume, says UOB Kay Hian analyst Stevanus Juanda. He expects weakness to persist until 1H and to likely improve in 2H. The brokerage remains overweight on the country's auto sector, anticipating a recovery in 2H. While Toyota remains the market leader in 2024 and in January, UOB KH notes that Chinese automaker BYD breaks into the top 10 in January. Among domestic names, Astra International is its top pick. The brokerage maintains a buy rating and a target price of IDR6,000.00 on the stock, which last closed at IDR4,530.00.(monica.gupta@wsj.com)
(END) Dow Jones Newswires
March 02, 2025 21:03 ET (02:03 GMT)
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