INDCAR accelerates its growth and reaches €67 million in revenue in 2025

• The company has duplicated its revenue in the last 3 years, and expects an 18% growth in 2026

INDCAR, leading company in design and manufacture of minibuses’ bodywork, finished 2025 with a revenue record of €67 million, 46% more than 2024, and reached an all-time-high of 555 produced units. Both milestones strengthen its positioning in the European market and mark a new achievement in the company’s trajectory.
In recent years, INDCAR has shown a clear strength and upward trend, duplicating its profits since 2022. This growth has been driven by a strategy focused on international expansion, diversifying its portfolio, and strengthening its sales network.
Within this framework, one of the most significant achievements of 2025 was the merger in October of Car-Bus.net, Spanish bodywork manufacturer specialized in Mercedes-Benz chassis. This strategic operation has allowed INDCAR to expand its product range and offer tailored solutions to the different chassis configurations.
Moreover, this addition has opened the doors to new business opportunities in international markets, reinforcing the international development plan of the firm. The company expects to exceed 200 units of Mercedes-Benz models in the next 3 years, establishing its product lineup and global competitiveness.
Larger presence in Europe
The globalization of the company is still one of the growth principles of INDCAR. In 2025, exports constitute around 90% of the total revenue, with sales in more than 10 countries. Throughout the year, the company reinforces its operations in strategic markets, such as Italy, France, and Spain, and joined forces with 4 new business partners in the Northern Countries, and Central Europe, thereby strengthening its dealer network.
Italy became the group’s main market, representing the 60% of its total revenue. Followed by France (24%), Spain (10%), and other European countries, including Belgium, Iceland and Sweden (6%), where the company continues to expand its presence in.
International growth, driven by the expansion plan and the key tenders in Italy, has reinforced the solidification of the minibus expert company in Europe.

A push towards electric mobility with a European stamp
In this framework, the company keeps moving towards the development of sustainable mobility solutions. The e-Mobi City, a European urban vehicle with 0 emissions and a 140 kW engine, is becoming popular in contests and urban transport projects, supporting the company’s trust on the electrification of collective transportation.
A key development in 2025 was the award of the contract to supply 129 units to ASTRAL (Azienda Strae Lazio S.p.A.), Italian public company from the Lazio region, becoming one of the most relevant projects in the company’s history. The first batch, including 80 units, is expected to be delivered throughout 2026.

Transformation and progress:

During the last year, INDCAR has continued to promote strategic projects to improve the efficiency of its processes and strengthen its long-term competitiveness, with investments in digitalization areas and promoting an organizational culture based on excellence.
In 2025, INDCAR presented its new corporate image, symbolizing the company’s transformation and its commitment to modernity. A shift that reflects the adaptation to a fast-paced digital environment and reinforces its client-focused culture.
“It has been a year of evolution, consolidation, and progress for INDCAR. The market is going through a growth trend, but these results are also fruit of the continuous effort and commitment of everyone at the company”, highlights Gaël Queralt, INDCAR’s CEO.
Furthermore, Queralt adds: “We have been working hard to reinforce a quality culture, promoting more efficient processes, continuous professional training, and adapting standards to guarantee the highest quality in all the organization’s levels”.

2026 perspectives
Looking forward to 2026, the company plans on maintaining its consistent growth, with the goal of refining its presence in the domestic market and continuing international expansion. The next goal the company anticipates is the production of around 650 units, which would represent an 18% growth.

About INDCAR:

INDCAR is a family business with headquarters in Arbúcies (Girona), specializing in designing and manufacturing bodywork for minibuses. With more than 135 years of history, the company has been established as Europe’s leader in its sector. Currently, INDCAR counts on more than 360 professionals, and produces more than 600 yearly units, exported to more than 10 European countries. Its industrial structure consists of 3 production plants in Spain and Romania, both certified with the ISO9001 and ISO14001, and 2 sales offices in France and Italy, which allow a strong closeness with clients in the main markets.
The company stands out for its commitment to innovation, quality, and sustainable mobility, offering tailored solutions to the passenger transport needs, and contributing to the development of a more efficient and eco-friendly public transport.
More information at www.indcar.es.