automotive

Astra (ASII) Accelerates Automotive Sales Through Astra Auto Fest 2024

The conglomerate issuer, PT Astra International Tbk. (ASII), is poised to boost automotive sales by the end of the year with the Astra Auto Fest 2024 exhibition. Astra's Director, Rudy Chen, stated that the event aims to invigorate the automotive market, which has experienced sluggish performance throughout the year. "The automotive industry is facing challenges, particularly in the car segment. Currently, data from January to October shows a decline of 15% compared to the previous year," Rudy remarked during the Astra Auto Fest 2024 ceremony on Friday, November 15, 2024.

As a strategy to enhance the sales of cars and motorcycles, Astra Financial, in collaboration with the Astra Automotive Group, is hosting the Astra Auto Fest 2024 from November 13 to 17, 2024, at Pondok Indah Mall 2 in South Jakarta. The event features 17 brands under the Astra Group showcasing their products and services, including Auto2000 (Toyota), Astra Daihatsu, Astra Isuzu, Astra UD Trucks, Lexus Menteng, BMW Astra, Astra Motor, and various other brands, including OLXmobbi. The showcased products range from conventional internal combustion engines to electrified vehicles, such as the Toyota Innova Zenix Hybrid, Toyota bZ4X, Daihatsu Rocky, Isuzu MUX, Lexus LBX Luxury, Lexus LM 7-Seater, BMW X3, and BMW M2.

In addition to cars, PT Astra Honda Motor (AHM) will also display several of its flagship motorcycle models, including the Honda CB500x, Honda CB650R, and Honda CMX 500 Rebel. Visitors will have the opportunity to test drive these vehicles. Furthermore, various financial services from Astra will be represented, including Astra Credit Companies (ACC), Toyota Astra Finance (TAF), SEVA, FIF Group, AstraPay, and Bank Saqu. Project Director of Astra Auto Fest, Yagimin, added that the company aims to achieve at least 1,000 transactions during the exhibition. Yagimin stated that the target set for the Astra Auto Fest is not overly ambitious, aiming for approximately 1,000 units or transactions.

Astra's Automotive Sales Performance

As previously reported, the Astra Group (ASII) held a 56% market share in the automotive sector as of October 2024, coinciding with a monthly increase in vehicle sales to 43,596 units.

Boy Kelana Soebroto, Head of Corporate Communications at Astra, noted that Astra's vehicle sales reached 43,596 units in October, reflecting an 8.7% increase compared to the previous month, with the market share rising to 56%. "Astra welcomes the positive growth in vehicle sales for October 2024. We hope this momentum will continue through the end of the year," Boy stated in a press release. The increase in Astra's sales aligns with a 6.2% rise in national vehicle sales, which reached 77,191 units in October. According to data from the Indonesian Automotive Industry Association (Gaikindo), Astra Group's total vehicle sales in October 2024 amounted to 43,596 units. This figure represents a slight decline of 1.94% year-on-year (YoY) compared to sales in October 2023, which were 44,460 units.

Tag: Astra Astra Auto Fest 2024 Astra International Rudy Chen