Dr. Sunhavut Thamchuanviriya, Group Chief Executive Officer of Millennium Group Corporation (Asia) Public Company Limited (SET: MGC), stated that the company’s operating results for the second quarter of 2026 show signs of improvement and continued growth, driven by the delivery of more than 2,000 vehicles that are currently on backorder. The company aims to complete these deliveries within the quarter.
Currently, MGC has delivered approximately half of the total backorder vehicles, with the remaining units expected to be delivered and reflected as increased revenue in 2Q26. The company continues to earn recurring income from after-sales services provided at over 80 service centers and workshops, which comprise nearly 1,000 repair bays. Furthermore, the growth of the loan portfolio from Alpha X has helped to further support operating results.
Looking ahead to the second half of 2026, the company anticipates continued growth in its operating performance from the third into the fourth quarter of 2026, which Dr. Sunhavut attributed to positive customer responses and confidence in the MGC brand. A key driver of this growth is the rollout of new vehicle models, with various brands under the MGC umbrella plan to launch new models in new segments to expand the customer base.
Additionally, the rise in oil prices has accelerated customers’ decisions to consider and switch to electric vehicles. Dr. Sunhavut noted that this trend presents significant business opportunities for the group, which carries a diverse range of EV brands.
However, he acknowledged that there may not be sufficient deliveries of some electric vehicle models this year due to demand outpacing supply, reflecting both high popularity and strong sales. Dr. Sunhavut expects growth in the second quarter of 2026 to play a crucial role in driving the company’s overall revenue up by approximately 15% year-on-year.
Dr. Sunhavut added that Thailand’s automotive industry is currently undergoing a full-scale transition into the era of electric vehicles, with consumers increasingly open to EV adoption. An important factor supporting this confidence has been the development of domestic infrastructure, which has become increasingly comprehensive and robust.
To reinforce its leadership in the market, MGC is slated to organize the MGC-ASIA Mobility Expo 2026 at Siam Paragon from 17–21 June 2026. This five-day event showcases over 20 brands from the MGC group, offering special promotions through the Mobility Loyalty Program. The expo features not only comprehensive automotive innovation and service displays but also creates interactive customer experiences through entertainment activities, providing a modern and engaging atmosphere to reach a wide range of target audiences.
Regarding its financial services business, Alpha X—a joint venture between MGC and SCBX—currently boasts portfolio growth of more than 10%. Alpha X targets high-net-worth customers with a variety of financial products, such as auto loans, yacht financial services, and wealth lending. MGC has now begun to recognize profits from Alpha X in the consolidated results.
