During 1Q22, ASII posted a 39% YoY increase in revenue to IDR 71.8 trillion; supported by main business lines such as Automotive, Heavy Equipment & Mining, and Agribusiness. Four-wheeler sales recovered significantly to near pre-pandemic levels; with market share rising to 53.8% YoY (Vs. 54.9% YoY in 1Q20). NHKSI Research views that high commodity prices will continue to support ASII’s performance in 2022.
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