SET-listed Sena Development is targeting car owners by expanding its customer base to include those looking to trade in old vehicles, amid a prolonged slump in the housing and condominium market.
Kessara Thanyalakpark, managing director of Sena, said the residential market, which had been expected to recover this year from last year's downturn, is now likely to contract further given the conflict between the US, Israel and Iran.
"Last year there was a severe contraction, and we had expected this year to improve," she said. "However, after the conflict erupted in late February, the market is likely to perform worse than last year."
Although residential development remains the company's core revenue driver, demand is expected to shrink as high-value purchases such as housing are likely to be affected by the conflict, with consumers becoming more cautious in their spending.
As a result, the company is seeking to generate income from its non-residential businesses, particularly automotive, said Ms Kessara.
In addition to selling new electric vehicles (EVs), including the Omoda & Jaecoo, Leapmotor and Deepal brands, Sena has expanded into an integrated platform linking automotive, energy and financial solutions. This enables customers to use solar power to charge their EVs, reducing both electricity and fuel costs over the long term.
The platform, which also incorporates its residential business, is supported by non-bank financial institution Ngern Sod Jai Dee, while subsidiary SenX integrates services across living, mobility and energy management.
The platform allows homeowners to better control monthly expenses and manage long-term energy costs more efficiently.
These solutions are accessible to all, covering housing, EVs, solar energy and financing, with Ngern Sod Jai Dee designing suitable financial options tailored to different customer needs.
In the second quarter, the company plans to launch a car-for-home solution, allowing customers to use their vehicles as part of a pathway to homeownership, while restructuring their financial commitments to better align with their lifestyles.
In addition, financial solutions such as vehicle trade-ins and home financing options will be offered to help ease customers' financial burden.
Amid a slowdown in the residential market, the company expects car sales to reach 800 million baht this year, up from 500 million baht last year, with 150 million baht already recorded in the first quarter of 2026.
