Astra International (ASII) net profits march 2012

Indonesia stock info - Astra International (ASII) net profits march 2012 ; Indonesian diversified group PT Astra International (ASII) maintained meaningful growth in the first quarter of the year amid a projected decline in automotive sales due to the central bank’s minimum down-payment policy and the government’s fuel-price hike plan.

ASII booked Rp 4.65 trillion (US$ 511 million) in net profits in the first three months of the year, an 8 percent increase compared to Rp 4.3 trillion in the same period last year.

The growth in net profits was supported by a 20 percent jump in consolidated revenue to Rp 46.35 trillion in the first quarter of the year from Rp 38.69 trillion in 2011.

ASII president director Prijono Sugiarto said the company expected a short-term impact from the implementation of minimum down-payments for automotive loans on its subsidiaries in the automotive business and financial services sector.

The central bank, Bank Indonesia, will implement on June 15 new regulations that demand a minimum down payment of 25 percent for motorcycle loans and 30 percent for car loans.

The Association of Indonesian Automotive manufacturers (Gaikindo) recently downgraded its estimate of the country’s automotive sales to 875,000 units this year from a previous projection of 940,000 units as a consequence of the regulation.

According to Gaikindo, 65 percent of sales of new cars in the country are supported by credit from financing institutions.

Prior to the regulations, customer could take home motorcycles and cars after paying only 10 to 15 percent of the vehicle’s total price. In some cases, down payments were even waived.

ASII, which relies heavily on its automotive businesses compared to other segments, including mining services and agriculture, is expected to suffer from the new down-payment regulations.

The automotive business contributed about 52 percent of ASII’s revenue during the first quarter of the year. Meanwhile, financial services — in which ASII has subsidiaries, such as PT Astra Sedaya Finance and PT Toyota Astra Finance, providing loans for various popular automotive brands — contributed about 6 percent to the group’s total revenue.

Nationally sales of cars increased by 11 percent to 251,000 units in the first three months of the year, of which ASII took a 58 percent share with sales totaling 146,000 units.

Meanwhile, the group also achieved an increased share of the motorcycle market to 55 percent, with sales of 1.1 million Honda units, out of national motorcycle sales of 1.9 million units.

ASII also saw an increased contribution from its heavy equipment and mining segments. Its 59.6 percent owned subsidiary, PT United Tractors (UNTR), managed a 17.63 percent increase in net profits to Rp 1.53 trillion, up from Rp 1.3 trillion in the first quarter of 2011.

UNTR reaped Rp 15.03 trillion in revenue during the January to March period, increasing by 18 percent from Rp 12.65 trillion in the same period last year.

ASII experienced a lower contribution of Rp 301 billion from its agribusiness subsidiary. Its 79.7 percent owned subsidiary PT Astra Agro Lestari (AALI) suffered a 42 percent drop in net profits to Rp 378 billion in the January-to-March period from Rp 654 billion in the same period last year.

“Although production increased by 5 percent to 289,000 tons, decreases in the average price of CPO [Crude Palm Oil] by 7 percent as well as growing production and operational costs led to AALI’s lower performance,” ASII said.

Another subsidiary, PT Bank Permata, reported a slight increase in net profits of 3 percent to Rp 331 billion, thanks to growing interest income and fee-based income.

Component manufacturer PT Astra Otoparts, of which ASII holds 95.7 percent ownership, reported Rp 263 billion in net profits, a slight 2 percent increase year on year.

Shares in ASII closed at Rp 70,900 on Wednesday, maintaining its position as the largest company by market capitalization with Rp 287 trillion out of the bourse’s total value of Rp 3,921 trillion as of Wednesday.

indonesia new car sales forecast 2012

Indonesia stock info indonesia new car sales forecast 2012, indonesia auto market share forecast 2012, Toyota market share, honda market share ; Gaikindo record sales in the first quarter of 2012 reached about 250 thousand units and memperikirakan second quarter 2012 sales reached 250 thousand, so the sales figures in the first semester reached 500 thousand units.

After the policy of minimum down payment car loans and the issue of rising fuel prices at the beginning of the year, vehicle sales in the second half of 2012 could be dropped to 375 thousand units," Sudirman said.

Gaikindo, according to Sudirman, the previous estimate of motor vehicle sales in Indonesia in 2012 about 940 thousand units, but estimates it will decline to approximately 875 thousand units.

According to data GAIKINDO, 65 percent of new car sales in Indonesia carried out with credit. Especially for middle-segment products under such a low MPV (Avanza, Xenia, APV, Gran Max, Ertiga) the composition of credit to 75 percent.

"Segment (lower middle) is the majority of DP was only 10-15 percent. With the rise in the purchasing power of the DP is reduced, the price of Rp 120 million cars a minimum of Rp40 million needed money to buy a car," Johnny Darmawan beber, President Director of PT Toyota Astra Motor

new volkswagen beetle 2012 price in india

Indonesia stock info - new volkswagen beetle 2012 price in india ; Volkswagen India will bring the third generation Beetle to India next year. The car, first introduced in 1938, has dropped the “New” tag from its name and will now be called the 2012 Beetle.

The third generation bug was unveiled at the Shanghai Motor Show. The car has recently been launched in the US and is expected to hit the Asian markets in February 2012.

“We will have the third generation Beetle in India soon. However, it will not be this year.” Neeraj Garg, a member of the board and director of Volkswagen Group Sales India Pvt Ltd, said over telephone from Mumbai where the diesel version of the sixth generation Jetta was launched today.

Volkswagen India has, so far, sold 617 units of the New Beetle that was introduced in India in December 2009. While the company sold 58 units of the “People’s Car” in 2009, sales rose to 466 units in 2010.

This year, the German car maker sold 93 units of the car till July.

“The Beetle, with a price tag of Rs 21.22 lakh, has been introduced in India for its iconic status and for brand positioning and not for volumes. Still, we have not done too badly having sold over 600 units in over one-and-half years. The new generation Beetle has hit the US markets. It will be introduced in Europe later this year. We hope to bring it to India next year. The car continues to be manufactured at our Mexican plant and will be sold here as CBUs,” he said.

Garg also said that since the government had no clear fuel policy, the market would veer towards diesel because of the difference in price.
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