Proton on track to achieve best sales since 2013 after selling 126,682 units in Jan-Nov

Proton on track to achieve best sales since 2013 after selling 126,682 units in Jan-Nov

06 Dec 2022

National automaker Proton Holdings Bhd said the company is on track to have its best sales year since 2013, with January to November sales reaching 126,682 units.

In a statement, Proton said the year-to-date (YTD) sales have eclipsed its full-year sales in 2021 by 10.4%, with YTD export sales climbing 66.6% to 5,028 units from 3,018.

This comes on the back of 11,316 units delivered in November, despite the company having to grapple with temporary supply issues that led to a month-on-month decrease of 13.1% from October 2022.

“November was an eventful sales month for Proton, as we experienced some temporary supply issues that prevented us from achieving our full potential. We are confident of being able to rectify them in December, and remain positive about closing out the year strongly,” said Proton deputy chief executive officer Roslan Abdullah.

According to Roslan, Proton will end 2022 with a fourth consecutive year of sales growth, and that the increase in sales in the year has also increased the volume of parts purchased from local vendors, increased its number of dealers, and created jobs for the automotive ecosystem.

“With the new model introductions in the pipeline for 2023, we hope to be able to increase our contribution to the Malaysian economy by making more local investments, selling more vehicles, and further growing our export market,” he added

On the specific performance of the automaker’s car models, Proton said five already exceeded their total volume in 2021, adding that two models in particular — Proton X50 and Exora — have been leading their respective segments throughout 2022.

“Market share for the month (November) is estimated to be 17.7%, and for the year (2022), Proton retains its hold on the second position in the sales table, with 19.7% of total vehicle sales,” the company said.

The company expects total industry volume in 2022 to set a record and approach 700,000 units, as Malaysia’s automotive market enjoyed a fourth consecutive month of more than 60,000 units in sales.

At the noon break on Tuesday (Dec 6), Proton’s parent company DRBHicom Bhd was trading two sen or 1.28% lower at RM1.54 a share, giving the group a market capitalisation of RM2.98 billion.

Source: The Edge Markets