KCAR Targets THB 2 Billion in 2026 Revenue, Expanding Car Rental and Vehicle Sales Businesses
Krungthai Car Rent & Lease Public Company Limited (KCAR) expects its business performance in the second half of 2026 to remain broadly in line with the first half, supported by growing demand from government agencies, state enterprises, and Japanese corporate clients. The company is also focusing on cost management, vehicle sales, and the expansion of its electric vehicle (EV) fleet, with a full-year revenue target of approximately THB 2 billion.
Source: Mitihoon Newspaper, September 3, 2026
KCAR Expands Corporate Car Rental Customer Base and EV Fleet
Mr. Pichit Chanthraserikul, Managing Director of Krungthai Car Rent & Lease Public Company Limited, told Mitihoon that the company expects its operating performance in the second half of 2026 to grow at a pace comparable to the first half. Growth is expected to be supported by demand from government agencies, state enterprises, and Japanese corporate clients, with the company identifying these customer segments as important contributors to its rental business.
KCAR has gained approximately 50–60 additional Japanese corporate customers, representing around 400 vehicles. This development highlights opportunities in the long-term car rental market for businesses, which remains one of the company's core business segments. The company expects its total rental fleet to remain at approximately 9,000 vehicles throughout 2026, including around 400 electric vehicles. Profit margins are expected to remain broadly stable. The growing presence of electric vehicles within KCAR's rental fleet also reflects the company's efforts to provide businesses with a wider range of mobility solutions.
KCAR Plans Large-Scale Vehicle Sales to Support Revenue Growth
In addition to its car rental operations, KCAR expects revenue from vehicle sales in the second half of 2026 to be comparable to the first half, during which approximately 800 vehicles were sold. The company continues to prioritize cost efficiency and financial discipline, including maintaining its non-performing loan (NPL) ratio at approximately 1%. Currently, car rental operations account for approximately 52% of total revenue, while vehicle sales contribute around 44%. Management expects the revenue contribution from vehicle sales to potentially exceed that of the rental business in the future, partly because vehicle sales generate revenue recognized at the point of sale, subject to applicable accounting requirements. With these business developments, KCAR is targeting approximately THB 2 billion in total revenue for 2026, supported by its car rental and vehicle sales operations.
Strong Financial Position and Cost Management Support KCAR's Competitiveness
Mr. Pichit also highlighted KCAR's financial stability, consistent dividend payments, and ability to generate cash flow to support future business expansion. According to the executive, the company generates approximately THB 2 billion in annual cash flow and maintains a debt-to-equity (D/E) ratio of around 1.0 times. KCAR also emphasizes effective borrowing management and appropriate bond issuance strategies to maintain competitive financing costs. Management believes that these financial strengths provide the company with a competitive advantage in the car rental and leasing industry. The executive further stated that KCAR holds a leading market position and has maintained a profitable operating record throughout its approximately 40-year business history, as reported in the interview.
KCAR Continues to Develop Its Car Rental and Leasing Businesses
With extensive experience in the Thai automotive rental and leasing industry, KCAR continues to focus on delivering comprehensive mobility solutions for government organizations, state enterprises, and private-sector businesses. Krungthai Car Rent & Lease Public Company Limited provides short-term car rentals, monthly rental services, and long-term vehicle leasing solutions, supported by comprehensive vehicle management services. By expanding its corporate customer base, maintaining financial discipline, and strengthening its vehicle sales operations, KCAR aims to support sustainable business development and long-term competitiveness.
Source: Mitihoon Newspaper, September 3, 2026.
Disclaimer: Financial figures, fleet numbers, revenue targets, and forward-looking statements in this article are based on management comments reported at the time of publication. Actual results may differ depending on market conditions and business developments.
Contact KCAR for car rental enquiries
Tel: 02 291 8888, 087 559 1111
LINE Official: @kcar
