Astra, Market Leaders Likely Unaffected by VinFast Expansion in Indonesia -- Market Talk

Dow Jones12-17

0315 GMT - Astra International and other market leaders are unlikely to see a near-term impact from VinFast Auto's expansion in Indonesia, Maybank analyst Paulina Margareta says in a research note. The Vietnamese automaker has introduced its VF5 and VFe34 models at competitive prices and has plans for a West Java factory capable of producing 50,000 vehicles by next year, she writes. But VinFast faces challenges from established Chinese brands including BYD, and won't easily cut into overall market leadership given nascent EV adoption in Indonesia, a local preference for larger cars, and consumer concerns about after sales and resale values, she says. Maybank has a buy rating on Astra with a IDR5,650 target price. Shares are 0.5% lower at IDR5,100. (ben.otto@wsj.com; @benottoWSJ)

(END) Dow Jones Newswires

December 16, 2024 22:15 ET (03:15 GMT)

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