Astra International Tbk (ASII) Reports 33% Increase in Net Profit from Automotive Division

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- Astra International Tbk (ASII) revealed that its net profit from the automotive division rose by 33% to Rp 9.7 trillion in 2022 compared to 2021. This increase reflects higher sales volume.

Last year, national car sales increased by 18% to 1 million units, according to Gaikindo data. Meanwhile, Astra's car sales grew by 17% to 574,000 units in 2022. "The relative market share is relatively stable at 55%," said Astra International management in a written statement quoted on Tuesday (28/2/2023).

The ASII stock code issuer launched 31 new models and 26 revamped models throughout 2022.

Regarding motorcycle sales, ASII, through PT Astra Honda Motor, recorded a 2% increase to 4 million units in 2022. Meanwhile, national motorcycle sales increased by 3% to 5.2 million units, according to the Ministry of Industry's data.

"The growth of motorcycle sales was constrained by semiconductor supply issues in the middle of last year, with a slight decrease in market share," explained ASII management.

The company launched three new models and 14 revamped models throughout last year.

Meanwhile, the automotive component business through PT Astra Otoparts Tbk (AUTO), a company 80% owned by ASII, achieved a net profit of Rp 1.3 trillion in 2022 or a surge of 117% compared to the previous year.

This increase was mainly due to the increase in revenue from the OEM and replacement parts market segments.

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