P H
May 17, 2016 12:45:31
April 2W down 15.1% MoM

·         2W sales in April were 478,036 units, down 15.1% MoM and -8.9% YoY due to overall weak demand. The MoM decline was also due to inventory sell downs by all 2W producers.

·         YTD 2W sales reached 1,982,504 units, down 6.9% YoY and slightly behind (~31%) target of 6.5m units for this year.

·         We expect 2W sales to start recovery before fasting month starts in July. We might see stronger sales in 2H as the impact of easing monetary policy starts to kick in.

$ASII

Bull
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N/A
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