CLSA Sept car sales update from Sarina Lesmina

Domestic car sales in September slumped to 49,171 units, -24% MoM, 32% YoY. This is expected given the Lebaran festivities season.

Toyota still dominated the market with 37% market share. Hence, 9M10 sales reached 556,230 units, up 65% YoY. Car dealers said demand continues to increase, and are confident that sales will rebound in the next few months and sales should be able to hit the 700,000 FY target (9M10 was 79% of this target). In the SUV market, Toyota just launched a new variant of Rush and expect demand to be strong given current crazy weather condition.