Proton logs fourth consecutive year of sales growth in 2022

KUALA LUMPUR – National automotive company Proton Holdings Bhd (Proton) concluded 2022 with its fourth consecutive year of sales growth at 141,432 units (domestic and export) – its highest overall sales since 2013.

Total sales grew by 23.3% year-on-year (y-o-y) despite a tough start to the year when the combination of flood-affected spare parts vendors and an acute shortage in the global chip industry depressed volumes in the first four months of 2022, Proton said in a statement today.

“Sales volume for international markets increased to 5,406 units, growing by 79.1% y-o-y, allowing the company to comfortably end the year as the industry’s leading exporter.

“Overall, the company has retained its number two ranking in the nation’s automotive sales table with an estimated market share of 19.6%,” it said, adding that the total industry volume (TIV) for 2022 is estimated to have closed at over 720,000 units – a new industry high on the back of a record-setting December.

Proton said sales for five out of six of its models grew in 2022, with three models ending the year as segment leaders.

“The Proton X50 continues to be the best-selling sport utility vehicle (SUV) in Malaysia, ending the year with a new SUV annual sales record of 40,681 units, an increase of 41.4% y-o-y,” it said.

Meanwhile, the Proton X70 retained its position as the best-selling C-segment SUV for the fourth consecutive year despite a strong challenge from new competitors, ending the year with an overall sales figure of 18,533 units, an increase of 13.1% y-o-y.

Deputy chief executive officer Roslan Abdullah said looking ahead towards 2023, Proton is confident of achieving more growth as it adds to its range of offerings with new model launches this year.

“However, we expect TIV to be lower as deliveries for orders placed during the sales tax exemption period will be fulfilled by the end of March.

“Interest rates are also expected to increase again this year so it will be tough for the automotive industry to continue its upward trajectory,” he said. – Bernama, December 4, 2023