Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Consumer discretionary / Thematic (Sector/Industry)

<ul><li>Weak domestic demand pressured 1H24 auto production downward by 17% YoY to 760k units.</li><li>Accordingly, we have reduced our 2024E auto production forecast to 1.60mn units, down 13% YoY.</li><li>We view that sector share prices have largely priced in this negative factor, while auto production may have bottomed out in 2Q24. </li></ul>

Weak domestic demand pressured 1H24 auto production downward by 17% YoY to 760k units.Accordingly, we have reduced our 2024E auto production forecast to 1.60mn units, down 13% YoY.We view that sector share prices have largely priced in this negative factor, while auto production may have bottomed out in 2Q24. 

Automotive - 2024E Auto Production Forecast Cut to 1.60mn Units