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MGC-ASIA 9-Month Profit Growth and XPENG G9L Launch

MGC-ASIA 9-Month Profit Growth and XPENG G9L Launch

Thairath•Economy•19m ago

Reader Briefing

MGC-ASIA reports a net profit of 995 million baht for the first nine months of 2026, driven by its integrated lifestyle mobility business model.

  • •MGC-ASIA achieved a 9-month net profit of 995 million baht, an increase of 175% from the previous year.
  • •The Mobility Retail business generated 17,030 million baht in revenue with 10,730 vehicles sold.
  • •XPENG Thailand launched the THE NEW XPENG G9L Ultra AWD, the first right-hand drive model in Southeast Asia.
  • •XPENG Motors is studying the possibility of establishing an EV factory in Thailand with MGC-ASIA.

Overview

  • •MGC-ASIA reported a Q3/2026 net profit of 320 million baht, a 26.4% increase from the same period last year.
  • •MGC-ASIA's growth is attributed to a business model covering the full automotive cycle, including sales, after-sales service, rental, credit, and insurance.
  • •Alpha X saw its loan portfolio increase by 30% from the end of the previous year to 14,594 million baht.
  • •MGC-ASIA paid an interim dividend of 0.24 baht per share in September.
  • •MGC-ASIA managed over 500 vehicles for the World Bank-IMF meetings in Bangkok in October.
  • •XPENG Thailand launched the THE NEW XPENG G9L Ultra AWD priced at 2,399,000 baht.
  • •XPENG Thailand aims to expand its sales and after-sales network to 30 locations nationwide by the end of the year.
  • •XPENG Motors and MGC-ASIA are studying the feasibility of building an electric vehicle factory in Thailand.

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Source: Thairath (Original)

Key Quotes

The New XPENG G9L Ultra AWD
"Next-Gen AI Flagship SUV"
The New XPENG G9L Ultra AWD
"Feel The Intelligence"

Key Entities

Organization

Millennium Group Corporation (Asia) Public Company Limited(บริษัท มิลเลนเนียม กรุ๊ป คอร์ปอเรชั่น (เอเชีย) จำกัด (มหาชน))
A leader in integrated lifestyle mobility and the parent company of MGC-ASIA.
MGC-ASIA
An integrated lifestyle mobility provider reporting significant profit growth in 2026.
BMWℹ️
A brand distributed under the Mobility Retail business of MGC-ASIA.
MINI
A brand distributed under the Mobility Retail business of MGC-ASIA.
XPENGℹ️
An electric vehicle brand distributed by MGC-ASIA.
ZEEKR
A brand distributed under the Mobility Retail business of MGC-ASIA.
Hondaℹ️
A brand distributed under the Mobility Retail business of MGC-ASIA.
Harley-Davidsonℹ️
A brand distributed under the Mobility Retail business of MGC-ASIA.
Alpha X
The financial business arm of MGC-ASIA.
Howden Maxi Insurance Broker
An insurance brokerage business under MGC-ASIA.
World Bank(ธนาคารโลก)ℹ️
An organization that held a meeting in Bangkok in October for which MGC-ASIA provided vehicle management.
International Monetary Fund(กองทุนการเงินระหว่างประเทศ)ℹ️
An organization that held a meeting in Bangkok in October for which MGC-ASIA provided vehicle management.
XPENG Thailand(เอ็กซ์เผิง ประเทศไทย)
A subsidiary of MGC-ASIA that launched the THE NEW XPENG G9L Ultra AWD.
XPENG Motors(เอ็กซ์เผิง มอเตอร์ส)
The global entity studying the feasibility of a factory in Thailand.

Person

Sanvut Thamchuanviriya(นายสัณหวุฒิ ธรรมชวนวิริยะ)
Group Chief Executive Officer of MGC-ASIA.
Mr. Sam Chu(มร.แซม ชู)
General Manager for Southeast Asia at XPENG Motors.
Apiwan Singthaweesak(อภิวันท์ สิงห์ทวีศักดิ์)
Chief Executive Officer of XPENG Thailand.

Place

Bangkok(กรุงเทพฯ)ℹ️
The location of the World Bank-IMF meetings in October.
Southeast Asia(เอเชียตะวันออกเฉียงใต้)ℹ️
The region where THE NEW XPENG G9L was first launched as a right-hand drive model.
Thailand(ประเทศไทย)ℹ️
A strategic market for right-hand drive vehicles and potential site for an XPENG factory.