Wed, 13 Oct 2010

From: Reuters

JAKARTA Oct 12 (Reuters) - Indonesia's motorcycle sales, an indicator of consumer demand in Southeast Asia's biggest economy, rose 14 percent from a year ago to 479,240 units in September, slower growth than seen earlier this year, industry data showed on Tuesday.

Domestic motorcycle sales in September were 35 percent lower than in the previous month.

Sales volumes were led by Honda (7267.T), Yamaha (7272.T) and Suzuki (7269.T), according to data from Indonesia's Motorcycle Industry Association (AISI).

Indonesia's biggest vehicle seller PT Astra International (ASII.JK) told Reuters it expected motorcycle sales to reach as much as 6.8 million this year, up 17 percent from last year. [ID:nJAK466921].

Investors have poured into Indonesia's stock market .JKSE in the past year and are now favouring consumer stocks on the growing strength of domestic demand, brokers say. Shares in Indonesia's top tyre maker Gajah Tunggal (GJTL.JK) have more than quadrupled this year.