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Proton Registers 13.6% Sales Growth in May Amid Positive Market Sentiment

Proton has reported a significant 13.6% increase in sales for May, with 12,522 units (domestic and export) sold. This surge has cemented the company’s second position in the national automotive sales ranking, achieving a forecast market share of 19%. The company’s sales for the first five months of the year closed at 62,697 units.

The growth in Proton’s sales aligns with the overall trend in the Total Industry Volume (TIV), which is estimated to have grown by 20.7% to approximately 70,000 units in May. The year-to-date (YTD) TIV figure is estimated at 330,236 units, marking an 8.8% increase over 2023.

 

 

Export Sales Surge

Proton’s efforts to expand into international markets, including Trinidad and Tobago, Bangladesh, and Iraq, have been fruitful, with export sales reaching 509 units in May—the highest shipment recorded for 2024 so far. Since February, the best-selling export model has been the Proton Saga, leading with 360 units exported in May. Cumulative export sales have reached 1,344 units since January.

Segment Leaders

The Proton X90, equipped with a mild-hybrid system, regained its position as the top D-segment SUV in Malaysia, with 364 units sold. Meanwhile, the Proton Saga saw a 21.6% increase in sales, reaching 6,119 units in May and 29,397 units YTD, reflecting an 8% uptick.

The Proton S70, a C-segment sedan, also performed well, with a 23% increase in sales to 2,011 units from 1,635 units in April. This brought its cumulative sales for the first five months of 2024 to 9,474 units.

Other models showed positive sales figures as well. The Proton X70 recorded 523 units, while the Proton Persona added 1,645 units, bringing its YTD total to 8,444 units. The Proton Iriz sold 452 units in May, totaling 2,410 units for the year. The Proton X50, a popular B-segment SUV, achieved 1,407 units in May, with expectations for increased demand following the launch of the revamped 2024 model on June 4.

Market Outlook

“Following a quiet month in April due to festive holidays, May has seen a return to positive growth as TIV has increased both year-on-year and month-on-month, reflecting the resilience of the local automotive industry,” said Roslan Abdullah, Chief Executive Officer of Proton Edar.

“With the cumulative TIV until May already making up 44.6% of the Malaysia Automotive Association (MAA)’s full-year projection of 740,000 units, we believe there is still room for growth in the local automotive industry. Entering the second half of 2024, Proton will focus on growing sales through updates to existing models and taking initial steps towards entering the EV market. Leveraging the strength of our partner, Geely, it is not a question of if but when Proton will reveal its own electric vehicles. Many exciting announcements are on the horizon,” added Abdullah.

Proton’s impressive sales growth in May, coupled with its strategic expansion into international markets and plans for future EV offerings, positions the company well for continued success in 2024. The positive market sentiment and resilience of the local automotive industry further bolster this outlook.

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