July 2022 is the first time an SUV has led the overall automotive market in sales volume. Not only did the Proton X50 set a new monthly sales volume for PROTON, it also became the best-selling vehicle in Malaysia last month. With this achievement, PROTON continues to keep its position as the leading brand in the SUV segment in terms of sales.
Subsequent to its best sales month of the year in June, PROTON registered 11,477 units (domestic + export) in July as the company’s resolution of its parts shortage issues were dampened by delays in approvals for a few of its models. As of 31 July, overall sales for the year is now 71,601 vehicles, an increase of 19.7% over the same period in 2021.
Consequently, PROTON also retains 2nd position in the national automotive sales table with an estimated market share of 22.7% for July. Meanwhile year-to-date market share is estimated to have increased to 18.7%. Total Industry Volume (TIV) for July is estimated at 50,500 vehicles as registration retreat to the median following the expiry of SST incentives on 30 June.
Following its best sales month in June, the Proton X50 continues its record-breaking streak as deliveries sped up to fulfill demand. The 4,763 units registered in July is now the new highwater mark for SUV sales in the country.
This also strengthens PROTON’s dominance in the segment as it is also bolstered by continued strong sales of the Proton X70. Deliveries of the all-new 2022 Proton X70 have increased following its launch on 9 June, with 1,704 units registered last month. This allowed the X70 to maintain its sales leadership for C-segment SUVs and pushed PROTON’s overall SUV volume in 2022 past 31,500 units for the first 7 months of the year.
Meanwhile, the rejuvenated Proton Saga continued to achieve strong numbers and kept its position at the top of the A-segment sedan class. 4,521 Sagas were registered last month, pushing cumulative sales for the year to 28,005 cars. The figures also indicate the 2022 model, launched on 12 May, managed to achieve 9,811 registrations in just 80 days.
Further, the Proton Exora also retained its lead position in the C-segment MPV class with 476 units registered. Unfortunately, the same cannot be said for Proton Persona and Proton Iriz as both models suffered approval delays in July resulting in registrations being temporarily halted.
“Following a hectic June where automotive industry players scrambled to lock in bookings before the end of SST incentives, July was a month of consolidation where market demand fell to normal levels, and everybody concentrated on fulfilling orders already received. PROTON was no exception and with our parts supply situation continuing to improve, we were finally able to show the true sales potential of the Proton X50,” said Roslan Abdullah, Deputy Chief Executive Officer, PROTON.
“The company is immensely proud of the model becoming the first SUV to be crowned as the best-selling vehicle in Malaysia and we are thankful for the support from our customers. This achievement and PROTON’s sales leadership in other segments shows our business plan is on the right track and repays the confidence placed in the brand by buyers, investors and other stakeholders,” he added.
On the export side, sales had surpassed the 2021 total volume. With 380 vehicles sold in July, exports for 2022 have risen to 3,102 units, surpassing the 3,018 vehicles exported in 2021. This counts PROTON as the leading vehicle exporter in the country and places the company in a strong position to help improve Malaysia’s trade balance in the future. The Proton Saga, Proton X70 and Proton X50 remain the leading export models, with the latter achieving a new export sales high of 126 units.
Meanwhile, PROTON’s financing subsidiary, Proton Commerce Sdn Bhd, has announced it will honour all Letters of Understanding (LOU) at the stated interest rate even if they were issued prior to the recent interest rate hikes. However, there are terms and conditions that apply, and the funds must be disbursed by 31 December 2022. However, this ensures customers who already have an LOU from Proton Commerce and are awaiting their orders that they do not have to worry about being charged a higher rate for financing.
“The easing of restrictions in global trade has been a major boost for PROTON’s export division. With 5 months to go, we are on target for yet another year of double-digit percentage growth, though our enthusiasm is couched by economic issues faced in overseas markets,” said Roslan.
He added: “Domestically, we are working to ensure that despite recent interest rate hikes, our customers will still be able to afford the vehicles they ordered. It’s vital to ensure we convert as many bookings as possible into transacted sales as this will help drive registrations as we continue to strive for more future success”.