ASEAN sales forecast revised up on latest data [Yahoo! Finance]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance
In Indonesia, volumes contracted by 5% YoY in October—the sixth consecutive month of decline—due to weak purchasing power, an increase in VAT, tighter auto loan approvals, and political protests. Recent data indicates that November sales totaled 69k units, the same level as was achieved during the month last year. The delivery and introduction of new models from Chinese automakers, particularly BYD Auto and Chery Group, were key factors in this improvement. In addition, an aggressive sales campaign during the GAIKINDO Jakarta Auto Week at the end of November contributed positively to the month's performance. Consequently, Indonesia's LV sales declined by 9% YoY in January-November overall. In terms of the forecast, Indonesia's 2025 sales estimate was lowered from 730k units in our previous report to 721k units in this report owing to November sales being weaker than projected and consumers potentially delaying purchases while awaiting automotive stimulus policies. According to loca
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