KCAR Eyes Large-Scale Vehicle Sales, Targets Revenue Breakthrough of THB 2 Billion

Source: Mitihoon Newspaper / September 3, 2026

KCAR, or Krungthai Car Rent & Lease Public Company Limited, represented by Managing Director Pichit Chantraseereekul, told Mitihoon that the company's performance in the second half of 2026 is expected to grow at a pace similar to the first half of the year. This growth will be driven in particular by new government and state-enterprise clients, which carry lower risk, as well as a significant increase in private-sector lease contracts from Japanese clients — around 50-60 new clients accounting for roughly 400 vehicles. However, total rental vehicle volume for the full year is expected to remain steady at around 9,000 units, of which approximately 400 are now electric vehicles, with margins holding at the same level.

Eyeing a Large Vehicle Sale Lot

In addition, for the second half of 2026, revenue from vehicle sales is expected to be roughly in line with the first half, which saw sales of around 800 vehicles. This year, the company is focusing significantly on cost management and keeping non-performing loans (NPL) at around 1%. Looking ahead, the company expects the proportion of revenue from vehicle sales to eventually exceed that from rental income (currently rental revenue accounts for 52% and vehicle sales 44%), since vehicle sales are recognized as revenue immediately upon sale. Full-year 2026 revenue is targeted at approximately THB 2,000 million.

Confirms Lower Costs Than Competitors

Pichit further stated that KCAR is a stock with steady growth and consistent dividends, backed by a strong financial position with annual cash flow of around THB 2,000 million — sufficient to support future business expansion. The company also maintains a low debt-to-equity (D/E) ratio of just 1x, and focuses on managing loans and issuing debentures appropriately to keep interest costs low, giving the company a cost advantage over competitors. Importantly, KCAR considers itself to hold the largest market share in its segment and has never recorded a loss throughout its 40 years in business.