ASAP rides EV demand, local production edge, and new plant plans
Q2 profit surges 455% on new car sales ASAP's Q2 2026 net profit jumped 455% to 60.87 million baht, driven by new car sales revenue rising 2.16 billion baht. This shows the core business is growing fast and making more money, which supports a higher stock price.
Directly answers why ASAP is moving: strong earnings growth is a key driver.
EV import tax hike seen as benefit, not threat The government plans to raise import taxes on fully imported EVs. ASAP says this won't hurt because 90% of its EVs are made in Thailand, and it could help locally produced cars compete better against imports. This reduces a potential negative and may boost sales.
Clarifies a regulatory risk that was previously seen as negative but is now positive for ASAP.
Strong EV order backlog and sales targets ASAP's subsidiary has over 3,000 CHANGAN EV orders waiting for delivery, and the company keeps its 2026 sales target of 14,500 units. It also plans to sell 2,000 used cars worth 800 million baht. This shows demand is strong and future revenue is likely to grow.
Highlights concrete demand and sales targets that drive revenue expectations.
Plans MAXUS EV assembly plant in Thailand ASAP is preparing to build a MAXUS EV assembly plant in Thailand by mid-2027, moving from importing fully built vehicles to local assembly. This long-term investment should cut costs, reduce import reliance, and support growth, though it requires capital.
A major strategic move that affects future costs and competitiveness.