The official vehicle sales numbers as of 8M10,with 2 and 4 wheelers representing 71.0%and 72.4%of our FY10F of 7.1mn unit (+21.1%YoY)and 700k unit (+44.0%YoY).ASII brands garnered market share of 47%in the 2-wheeler segment (slightly above Yamaha ’s market share) and 56%the 4-wheeler market.Currently,we have a buy recommendation
on Astra International (ASII,Rp56,000,TP:Rp58,000),trading at PER10F and PER11F of 17.8x and 16.3x.
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