JAKARTA – PT Astra Otoparts Tbk (AUTO) is aggressively expanding the market share of automotive spare part products in African region to boost its sales from export segment.

Hamdhani Zulkarnaen Salim, President Director of Astra Otoparts, said that the company is looking for developing countries in African region as its new export destinations. “We are aggressively attempting to enter developing countries, in Africa, for example. It will be our target in the future,” he said during an interview with IDNFinancials in Jakarta Monday (6/11).

According to Salim, AUTO has been targeting exports to limited number of African countries since a couple of years ago. The number of developing countries has kept increasing until today.

So far, Salim mentioned, the biggest market share of automotive spare part product of AUTO is Asia, particularly Malaysia, followed closely by spare part manufacturer from China, Korea, and Taiwan. “We are still optimistic that we will be able to expand export sales of the company,” he added.

In Q3 2023, this issuer recorded net revenue of IDR 14.08 trillion, generated by domestic third party of IDR 8.09 trillion, and exports of IDR 1.13 trillion. Meanwhile, related parties generated revenue of IDR 5.17 trillion. (LK/ZH)