Mansek Auto Sector:2 wheelers sales volume in Sep ’10 decreased by 34.5%MoM

2 wheelers sales volume in Sep ’10 decreased by 34.5%MoM.The decrease was due to shorter working days (only 14 working days in Sept ’10)as a result of Muslim Festive Holiday.Up to 9M10,2 wheelers sales volume grew by 33.1%YoY.This 2 wheelers sales figure represents 77.6%of our FY10F of 7.1m units (+21.1%YoY).Currently,We have BUY recommendation on ASII (ASII,Rp58,950,BUY,TP:Rp58,000),ASII is trading at PER10F and PER11F of 18.8x and 17.2x. Buy,Rp12,000)