Retail in Asia

In Sectors

Indonesia’s Astra expects sales growth to ease

Recent sharp increases in car and motorcycle sales in Indonesia are likely to moderate over the coming months, but overall sales should remain strong, the president-director of PT Astra International said in an interview.

The company, one of Indonesia’s largest conglomerates with interests from cars to plantations, has seen its share price surge over the past year in part because of the surprising strength in consumer demand in Southeast Asia’s largest economy. That strength was especially apparent in recent months, when auto and motorbike sales rocketed higher. Car sales rose 61 percent in February compared with a year earlier, while motorcycle sales grew 30 percent that month. Astra assembles and distributes cars and motorbikes in partnerships with Toyota Motor Corp., Honda Motor Co. and others.

To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

(Source: The Wall Street Journal Online)