Federal International Finance (FIF), a subsidiary of Astra International (ASII), diversifies into 4W financing this month, seeking Rp10-15bn monthly new booking target or about 100 cars. The CEO expects to gradually ramp up the target to Rp100bn/month or about 1,000 cars.
At the moment, FIF’s portfolio is 80% channeled to new 2W financing, and the remaining 20% to used 2W and electronics. On 4W financing, FIF will tap the areas that have not been by Astra Credit Companies (ACC), another subsidiary of ASII that is involved in the 4W financing business. Thus, FIF will focus on areas like Papua, Ambon, and Pontianak. This year, FIF targets 1.2mn units of new 2W (around Rp12tn), 400,000 units of used 2W (around Rp3.45tn), and Rp2.5tn of electronic products. (Bisnis Indonesia)
Indonesia Market Summaries, 2 May 2013
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