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>The outlook for used car prices is expected to continue recovering in 1H25E, driven by a decline in repossessed vehicles entering auction lots and the "You Fight, We Help" program, which is helping to slow down repossessions by financial institutions.</li><li>This has, in turn, improved the absorption of excess supply. In addition, as prices have adjusted to more attractive levels, we are  meeting demand shift toward the used car market, reflected in the increase in the portion of cash purchases from just 10% to 50%.</li><li>Given these positive industry developments, we believe the worst for used car prices has passed, benefiting hire purchase lenders more than title loan providers, as the hire purchase segment has a higher loan-to-value (LTV) ratio. </li></ul>

The outlook for used car prices is expected to continue recovering in 1H25E, driven by a decline in repossessed vehicles entering auction lots and the "You Fight, We Help" program, which is helping to slow down repossessions by financial institutions.This has, in turn, improved the absorption of excess supply. In addition, as prices have adjusted to more attractive levels, we are  meeting demand shift toward the used car market, reflected in the increase in the portion of cash purchases from just 10% to 50%.Given these positive industry developments, we believe the worst for used car prices has passed, benefiting hire purchase lenders more than title loan providers, as the hire purchase segment has a higher loan-to-value (LTV) ratio. 

Banking and Financial Group - MARCH 10, 2025