Total Industry Volume Archives

2021 new vehicles sales passed 500,000 mark but still 4% down from year before

Although 2021 was the second year of the COVID-19 pandemic and the auto industry had been hoping to recover from the impact of the lockdown in 2020, the total number of new vehicles sold was actually lower. Where the Total Industry Volume (TIV) in 2020 was 529,514 units, the TIV for 2021 was 4% lower at 508,911 units.

Nevertheless, the usual final-month push by car companies saw the December having the highest sales volume of the year with 65,184 vehicles delivered nationwide. This contributed to the year’s TIV going past the 500,000-unit level that had been forecast by the Malaysian Automotive Association. While 2021, like 2020, had long periods when business activities – including motor vehicle sales and production – were suspended, the rate of recovery in 2021 was not as quick as the year before.

*New vehicle sales in Malaysia from 2017 to 2021.*

Commenting on the sales figures, MAA President Datuk Aishah Ahmad said that the measures taken by the government were important factors. “The much smaller TIV’s contraction recorded in 2021 [compared to 2020] can be attributed to the measures and wisdom of our government in balancing between saving lives and jobs so as not to jeopardize the domestic economy,” she said.

Owing to the relaxation of the movement control orders, many economic sectors were allowed to re-open for businesses. This helped to improve business confidence which contributed to more sales of new vehicles, including commercial vehicles which are much needed for the running of businesses. Having deferred purchases during 2020, many companies would have made their fleet purchases during 2021 to support their business activities.

*The sales exemption has helped to encourage many to buy new vehicles, contributing to the recovery of the industry.*

“The extension of the sales tax exemption incentive under PEMERKASA+ package till December 31, 2021, also helped to sustain the demand for new passenger vehicles,” added Datuk Aishah. “Under the PEMERKASA+ package, the government agreed to exempt sales tax up to 100% for completely knocked down (CKD) passenger vehicles assembled in Malaysia, and 50% on passenger vehicles that were imported in completely built-up (CBU) form.

In the passenger vehicle segment, it was evident that even more buyers preferred SUVs, mirroring the global trend which has had manufacturers hurriedly launching new SUV models. In the case of Malaysia, passenger car sales declined by about 19.7% while SUVs grew by 43%. The other segments – MPVs (which used to be second to passenger cars) and window vans – also saw lower sales although not significantly different from their 2020 volumes.

Overall, passenger vehicle sales fell by 5.9% to 452,663 units but this was not entirely due to reduced demand. Some companies also experienced stock shortages due to the semiconductor microchip supply issues which affected their local production or production at overseas factories from which they import their vehicles. It only takes one part being unavailable to prevent a vehicle from being completed and leaving the factory.

The commercial vehicle segment (which includes pick-up trucks)) fared better, recording an increase of 15.9% to a volume of 56,248 units, which represented 11% of the TIV. In this segment, pick-up trucks registered the biggest increase of 20.9% to 40,736 units, account for 72% of the commercial vehicle segment.

*All-new 4th generation Isuzu D-MAX launched in April would have contributed to growth in pick-up sales.*

The growth would have been helped by the introduction of new models like the Isuzu D-MAX during the year. The all-new generation of the popular pick-up truck was launched in April and Isuzu Malaysia reported that average monthly orders were 100% higher than the previous generation.

The bigger commercial vehicles saw lower sales; bus sales, for example, fell by almost 50% between 2020 and 2021 although this would be understandable in view of the situation. With restrictions on interstate travel for much of last year and borders with Thailand and Singapore pretty much closed, tour companies would not have wanted to get new vehicles. However, truck sales did go up by 5.3%, probably in view of increasing demand for delivery services.

Although the factories were forced to shut down for an extended period, the drop in local production was actually minimal – 3,535 units or 0.7%, compared to 15% in 2020 when the drop from 2019 was almost 87,000 units. While passenger vehicle production declined by 11,324 units (2.5%), commercial vehicle production actually rose by 7,789 units (28.4%). Outputs rose for trucks and panel vans which, as mentioned earlier, had greater demand.

Looking ahead in 2022
Notwithstanding pandemic-related issues that can cause disruptions and supply chain issues such the global shortage of semiconductor chips, rising cost of freight, there are still some positive aspects that can boost new vehicle sales in 2022.

Continuation of the sales tax exemption for imported and locally assembled passenger vehicles till June 30, 2022 will be helpful in encouraging people to buy new vehicles. Bank Negara Malaysia’s decision at its Monetary Policy Committee (MPC) meeting in November 2021 to maintain the benchmark Overnight Policy Rate at 1.75% will provide additional policy stimulus to accelerate the pace of economic recovery. This may help to stimulate domestic spending including for high-cost items like motor vehicles, and with the economic recovery will come more consumer spending.

Therefore, the MAA is optimistic that the industry will accelerate its recovery in 2022 and is forecasting growth of 17.9% over the 2021 TIV. This would take the volume to the elusive 600,000 units that has been difficult to reach (the last time was in 2019 when the TIV was 604,281 units). The MAA expects the passenger car segment to grow by 19.3% and account for 540,000 units, with the commercial vehicle segment (which includes pick-up trucks) growing by 6.7% to 60,000 units.

Looking further ahead, the MAA expects 2023 to be a boom year as recovery continues with rising demand after 2022. It forecasts a 7.5% increase to 645,000 units then but then the market will slow down again with average growth of around 2% annually up to 2026. Of course, much depends on how the pandemic runs its course although the government has made it clear that there will not be lockdowns again (apart from targeted ones, if really necessary).

Third year of growth in Proton sales in spite of challenging conditions

Although it is estimated that the Total Industry Volume (TIV) of new vehicles sold in Malaysia last year dropped by at least 4.6% to just over 505,000 units of passenger cars and commercial vehicles, Proton’s sales for the year rose by 4.5% over its 2020 volume. With December contributing 14,147 units, the Malaysia carmaker ended the year with a total of 114,708 units delivered (including export sales). It was the highest closing figure since 2014 and is the third consecutive year of volume growth for the company.

The brand’s market share in December is estimated to be 20.6% but for the whole of 2021, it would likely be 22.7% (pending official data from the Malaysian Automotive Association). This would be an increase of 2% over the market share in 2020, putting it is a firm second position in overall sales.

SUVs make big contribution
It’s not surprising that the two SUV models – the X70 launched in December 2018 and the X50 in October 2020 – have made major contributions to Proton’ sales numbers. This mirrors the global trend that has been going on many years now where SUVs are very popular.

With a total of 45,149 SUVs sold in 2021, Proton can claim to be the best-selling SUV brand in Malaysia. That number accounted for nearly 40% of its total sales volume. Individually, the X50 ended the year with 28,774 units, with December being its best month when 4,310 units were delivered nationwide. It was the second consecutive month the model exceeded more than 4,000 units.

Meanwhile, 16,375 units of the bigger X70 were delivered in 2021 with a final month figure of 1,616 units. This put it at the top of the SUV C-segment, and third in terms of overall SUV sales.

Saga still the bestseller
Nevertheless, the bestselling model for Proton was still the evergreen Saga, with 42,627 units sold. The model is also sold overseas and assembled in some countries as well, enabling better supply of cars to those markets.

Other models that performed well in 2021 were the Exora (4,035 units), Persona (16,153 units) and Iriz (6,708 units). Deliveries rose a bit during December as chip supply issue improved slightly.

Growing international sales
International sales were also a major highlight for the company. With 3,018 units exported in 2021, the total volume grew by over 100%. This made Proton the number one local automotive brand for export sales last year. With local assembly operations ramping up in overseas markets coupled to a hopeful loosening of trade restrictions, there is optimism the upward trend will continue in coming years.

“2021 was tough for the automotive industry as a whole and this is reflected in the reduction in TIV compared to the previous year. From a global chip shortage to a spike in COVID-19 numbers that led to another lockdown to skyrocketing transport costs, there were many challenges for industry players to overcome. That is why PROTON’S sales growth in a year where the market contracted was significant as it was the result of careful planning and juggling of available resources,” said Roslan Abdullah, CEO of Proton Edar.

“Regarding export sales, we are equally proud about being the brand with the highest export volume in 2021 as it proves we are gaining traction overseas thanks to the joint efforts of our International Sales division and our foreign partners. While increasing shipping costs are a growing concern, our planned activities in 2022 means we expect export sales growth to accelerate in the coming years,” he added.

7 new outlets opened
The Proton network of 3S/4S outlets started 2021 with 140 outlets and despite the challenges faced in terms of financing and construction works, another 7 outlets were in operation by the end of 2021.

“The growth of Proton’s ancillary businesses such as Proton Commerce and the increase in the number of outlets is directly linked to the number of vehicles we sell. As sales have grown so have our facilities to cater to an increased number of customers. I would also like to announce we have extended the warranty for the 6-speed automatic gearbox used by the CBU Proton X70 to 5 years with unlimited mileage. This is to further benefit our customers and give them added peace of mind,” added Encik Roslan.

Proton enhances flood assistance offers to owners with more discount on selected parts

Perodua ends 2021 with 190,291 vehicles sold, with Myvi continuing as bestselling model in the country

In 2020, although the COVID-19 pandemic started, Perodua was able to sell 220,154 vehicles. However, in 2021, apart from the disruption of a long suspension of business, the supply issues for semiconductors and more recently, severe floods in many states, saw the carmaker’s sales volume for the year falling by 13.6%to 190,291 units.

The drop might have been slightly more but a last big push in December managed to increase the sales volume in the final month of 2021 to 22,940 units, 13% higher than the November volume. Part of the reason for the higher volume was also due to countermeasures on intermittent supply disruption due to COVID-19 issues, enabling more vehicles to leave the two factories.

“The 190,291 registrations were below our target of 200,000 units for 2021 as the challenges in 2021 was greater than anticipated,” said Perodua President & CEO, Dato’ Zainal Abidin Ahmad. “God-willing, deliveries will further improve in the coming months.”

The Myvi, updated in mid-November, continued to be the bestselling model in the Malaysian market with 47,525 units delivered nationwide. It has taken the market-leading position for 12 of the past 15 years, with the other 3 years being taken by the smaller Axia which, together with the Bezza, dominating the country’s A-segment.

Looking at overall industry performance in 2021, Dato’ Zainal said that the Total Industry Volume (TIV) for the year would also see a similar sales impact with an estimated decrease of 23.6% to 504,536 units from the 528,172 units sold in 2020.

“Despite the lower than expected performance for 2021, our countermeasures for the impact of COVID-19 have proven successful so far as we and our suppliers are dynamically cooperating and coordinating our efforts to ensure interruptions are minimised,” he said.

“These efforts include having a ready team of personnel to take active countermeasures at an alternate site if a supplier is under lockdown and also by allocating Perodua staff to shore up any suppliers that need temporary manpower replacements,” he revealed.

“The local automotive supply chain has also taken a massive setback in recent years. However, there is a silver lining as the order bank for Perodua vehicles remains healthy as consumers are still responding positively to the sales tax exemption introduced by the government,” Dato’ Zainal said.

On the year ahead, Dato’ Zainal said that the company had offered a forecast of 240,000 units for 2022. However, this number will likely be reviewed later this month, taking into consideration the latest developments and events.

Regarding the recent Perodua Flood Assistance programme, Dato’ Zainal said about 1,675 owners have responded to the programme and their vehicles are being inspected at Perodua service centres across the country.

“The Perodua Flood Assistance programme, which was announced by the Prime Minister, December 26 2021, has drawn a lot of interest from the public. Our priority now is to work with the insurance companies as well as other our other partners to hasten any approval process needed to repair and restore the flood damaged vehicles,” Dato Zainal said.

“We understand that most of our customers rely on their Perodua for their daily activities and we will do our best to assist,” he added. Perodua is offering up to 50% discount on selected parts needed to repair flood-damaged vehicles, and there will be no charge for labour for repair work (excluding car cleaning and detailing).

Perodua owners whose vehicles have been damaged by flood can contact the company’s support line 1-800-88-5555 to get assistance, especially for towing services (terms and conditions apply). To locate a Perodua service centre in Malaysia, visit www.perodua.com.my.

Perodua offers assistance to flood-affected customers with 50% discount on selected parts

7.5% drop in new vehicle sales for November as one month remains to hit 500,000 units for 2022

*All data from monthly reports of Malaysian Automotive Association.*

The Total Industry Volume (TIV) for November was 58,742 units, a drop of 7.5% from October and 4% less than what was recorded in November 2020.

This decrease was attributed to reduced supplies of certain models due to the global shortage of microchips (as well as some parts), and some members of the Malaysian Automotive Association (MAA) also believe that customers may have deferred plans to purchase their new vehicles after learning that the sales tax exemption would be extended till June 30, 2022.

Although there are production delays at some plants due to shortage of parts, the total output in November of 58,0-79 units was 6% higher than for the same month in 2020.

The cumulative TIV over 11 months reached 441,136 units – 4% below the volume achieved for the same period in 2020. This means that the industry would have to deliver 58,864 vehicles in December to hit the forecast of 500,000 units. While the MAA is optimistic that there will be a higher TIV in December, it is hard to predict just how much higher due to the supply issue. Typically, there is a significant jump at the end of the year with promotions and a final push by companies to get the best numbers before they close the year’s books. In 2020, the TIV went from 56,489 units in November to 64,836 units.

Production disruptions reduce Perodua deliveries in November by 27.1%

Proton’s cumulative volume for 2021 goes past 100,000-unit level for third consecutive year

In spite of being a challenging year for the auto industry, 2021 will still see Proton staying above the 100,000-unit level for the third year in a row. In fact, even with one month left, the Malaysian carmaker has already reached a cumulative total volume of 100,566 units. This has been achieved with a sales volume of 14,187 units (domestic + export) during November

Another month of growth
With the market on the upswing, Proton too has enjoyed revived interest by car-buyers, with a 6.2% increase over October sales. This would be the third consecutive month of growth. And looking back at a year ago, November 2020 sales were 24.3% lower.

*Volume for 2021 is from January – November.

The market share of the Malaysian market for the month is estimated to be 24.5% and for the 11-month period, the share has grown by 1.9% to an estimated 22.8% at the end of November 2021.

Saga remains bestseller of the brand
The evergreen Saga remained the brand’s bestseller and had its best sales month since December 2020. 5,666 units were sold nationwide, placing it at the top of the A-segment sedan class, a position the company is hopeful it will retain to the end of the year.

The younger X50 also had a record month in November with 4,010 units delivered. That is significantly better than its previous high of 3,839 units set in October. Its bigger brother, the X70, remained in high demand and gained 1,901 new owners in November, also giving it leadership in the C-segment SUV class.

TOP THREE PROTON MODELS IN NOVEMBER

The Exora MPV is still dominant in the C-segment MPV market and saw a fourth consecutive month of growth 434 units sold. There is demand for the other models but, as with many carmakers, Proton has experienced component supply issues for the Iriz and Persona. This has limited their production volumes and only 642 and 1,534 units, respectively, were available for delivery to customers.

Limited by supply, not demand
“November was a good sales month for Proton though overall industry numbers continue to be limited by supply and not low demand. Crossing over the 100,000-unit threshold with a month to go is a high point for us after another year disrupted by COVID-19,” said Roslan Abdullah, CEO of Proton Edar.

“We are humbled by the achievement and are now confident of ending the year with an increase in total sales. This will make Proton the sole national brand to grow sales and market share this year and give us a strong base heading into 2022 as we look to consolidate and improve our ranking both domestically and overseas,” Encik Roslan added.

Proton’s new Gallery of Inspiration shows carmaker’s past, present and future

New vehicle sales continue rising with 43% increase in October

*Data sources: Monthly reports of the Malaysian Automotive Association.*

With more days in September and continued progress towards normalising activities in the business sector, new vehicle sales continued to rise. Although 4.8% lower than October 2020, the Total Industry Volume (TIV) of new vehicles registered in the month was 43% higher than September.

It’s uncertain how much of the increase was from new orders as the more popular models from the two leading Malaysia carmakers – Perodua and Proton – have a backlog. Production has been interrupted due to the global microchip shortage which worsens the situation of delayed deliveries which was already evident before the long period of lockdown.

Cumulatively, after 10 months, the TIV has not reached the same level as the 10-month period in 2020 and the 2021 TIV is 382,379 units or 5% lower than the same period in 2020.

The plants have been working flat out to raise output but there is also a dependence on their suppliers, some of whom have their own production issues and disruptions. For this reason, Perodua has ensured that the ‘ecosystem’ remains as intact as possible by helping its suppliers in various ways so that they do not have to shut down.

Compared to the same month in 2020, total output in October 2021 was 12% higher with 61,248 passenger vehicles (excluding pick-up trucks) and 4,162 commercial vehicles assembled.

From January to October 2021, the total number of vehicles produced was 369,406 units, about 5,000 units less than the same period in 2020.

The Malaysian Automotive Association (MAA) expects that the TIV has reached a plateau and November numbers will be similar. There may, however, be disruption to supply of imported vehicles as the plants in other countries may be hampered by the microchip shortage. Generally, companies like Perodua expect to be able to maintain production levels until the end of the year as they have a commitment from their suppliers but are undertain of the situation in 2022.

Vaccination does not make you immune to COVID-19 infection. You can still get infected and although you may not show symptoms, you can spread the coronavirus to others. Do not stop taking protective measures such as wearing a facemask, washing hands frequently and social distancing.

Third consecutive month of higher sales as market recovers after long shutdown

Source: Monthly reports of the Malaysian Automotive Association

The Total Industry Volume (TIV) for the month continued to rise for a third consecutive month, September being the first full month of business after the long forced suspension of activities. The TIV increased by 153% compared to August sales, translating to a volume difference of 26,775 units.

Of the 44,275 units, 38,315 were passenger vehicles (excluding pick-up trucks) while 5,960 units were commercial vehicles (including pick-up trucks). Pick-up trucks account for between 65% to 70% of commercial vehicle sales.

Compared to the same month in 2020, however, the TIV in 2021 was 23% lower. The gap for cumulative sales over 9 months was smaller at 7%; in the same period last year, 344,019 vehicles were sold whereas in 2021, the total number reached only 318,874 units.

According to the Malaysian Automotive Association, some companies are affected by the global chip shortage and are having delays in deliveries to customers. This situation affects CBU models as well as those that are locally assembled although not equally at different plants.

Production nevertheless has been climbing in the same manner as sales numbers, with most plants able to operate at full capacity. The government allows those factories with a minimum of 80% of their workforce fully vaccinated to carry out operations with full attendance.

The total production volume for September was 229% greater than the output in August, with 45,972 vehicles assembled. Of this number, 42,556 units were passenger vehicles.

Cumulative production from January to September reached 303,996 units, 4% lower than the 315,863 units that were assembled over the same period in 2020.

The MAA expects October sales to show continued increase as output of vehicles is pushed as much as possible, while the companies are doing their best to meet 2021 targets if possible. There are still a few new models that will be launched before the end of the year so customer interest will be high. And of course, towards the end of the year, there will also be promotions that will entice many to buy a new vehicle.

Perodua sales and deliveries accelerating with 102% increase between September and August

July new vehicle sales higher but nowhere near normal levels

As expected, new vehicle sales in July 2021 were way down, though not as rock-bottom as June when the Total Industry Volume (TIV) was under 2,000 units. As in June, the continued closure of showrooms meant that no sales could be conducted and even if they could, registering the vehicles would not be possible. However, July’s TIV was 270% or 5,465 units higher as showrooms could operate in Sabah and Sarawak so sales were possible there and accounted for the higher numbers.

Minimal bookings from online channels
According to the Malaysian Automotive Association (MAA), which has been compiling data since the 1960s, members reported that bookings via online channels were minimal. These ‘virtual showrooms’ started to appear over the past year as stricter SOPs were in force and there was also concern that customers might not be comfortable coming to showrooms. Customers can make bookings and make payments via online transfers to at least start the process. However, there are still the other things like loan applications which still need some personal interaction.

The cumulative TIV after 7 months reached 256,215 units this year, which was about 10% higher than for the same period in 2020 – and this has been with 2 months of virtually no sales. With sales resuming from mid-August, there will be a backlog to clear plus new orders so the TIV by year-end might still be higher than for 2020.

3-digit production figures
On the production side, the assembly plants have had to suspend operations too and the output fell to three digits in June but rose again in July. The disruption has been challenging for the plants which very much prefer consistent assembly. The shortage of microchips is also slowing output and as the end of the year nears, pressure will be on to deliver as many vehicles as possible because car companies are using the sales tax exemption as a selling point. It expires at the end of this year so many will want to make sure they can enjoy those savings.

Will sales pick up again?
Looking ahead, the MAA expects August sales to be better although there are only two weeks to the end of the month for sales. Furthermore, given the current situation in the country, not only with the pandemic but also the political situation, consumer sentiment may be cautious, and people will be reluctant to spend a lot.

According to MAA President, Datuk Aishah Ahmad, total losses for the local auto industry for the months of June and July have been estimated to be more than RM14 billion. “This is just only from sales of vehicles in the domestic market. Our members also lost much in terms of revenue from exports of vehicles and components, and sales of spare parts locally. All in all, these losses had been very substantial and unprecedented”, she said.

Car showrooms, accessory stores and carwash centres can resume operations from August 16

Summary of new vehicle sales and production in May 2021

*Data for 2021 does not include Mercedes-Benz sales as the company does not wish to release its numbers. Source: Monthly reports of Malaysian Automotive Association.*

While the Total Industry Volume (TIV) for May 2021 was double the TIV for the same month in 2020, the decline was beginning as the nationwide Movement Control Order (MCO) required non-essential businesses – including car showrooms – to be closed from May.

The Hari Raya festive period also reduced the number of working days and saw the TIV for May (46,663 units) being 19% lower than April.

90% of new vehicle sales were passenger vehicles, excluding pick-up trucks. This is also mirrored in the cumulative TIV for the first 5 months of 2021 which reached 245,932 units. During the same period in 2020, the TIV was 128,790 units due to the stoppage of businesses when the first MCO was implemented.

*Source: Monthly reports of Malaysian Automotive Association*

The vehicle output at the assembly plants also fell with the effects of the global shortage of microchips hampering production for some brands.

The total output of 42,522 units was 18% lower than in April or almost 9,000 units difference.

Cumulative output for 5 months was 240,998 units, or 117,142 units more than for the same period last year.

The MAA expects sales in June to be minimal and composed of companies carrying forward invoicing from May. No new vehicle sales can be conducted throughout June as showrooms must remain closed. Furthermore, agencies handling vehicle inspections or registration are also closed or working at reduced capacity.

As market goes into downturn, Proton’s sales also dip by 37%

2021 for the auto industry started low but as the first quarter progressed, sales volumes rose. However, with the second quarter, it appears that the market is going into a downturn. By Proton’s estimate, the May Total Industry Volume (TIV) of new vehicles registered fell by around 20%. While the Movement Control Order (MCO) may have had some effect, but shortages of chips – vital components for the many electronic systems in modern cars – have been slowing down output from the assembly plants.

For Proton, after seeing strengthening sales with each month, it reports that its May volume was down 37.1% from April. The Malaysian carmaker sold 9,440 units (some of which were exported) and with this volume, its estimated market share would be 20.3%.

Up to the end of May, the cumulative volume reached 57,283 units which translates to a market share estimated at 23.5% and an increase of 2.4% over the same period in the previous year.

As with the previous month, the X50 and X70 continued to lead their segments by a considerable margin. 1,899 units of the smaller SUV model were delivered in May while the X70 had 1,523 new owners. This brings the cumulative total of 3,422 units for the domestic as well as export markets.

Exports reach new 98-month high
Meanwhile, Proton’s overseas sales continue to gain momentum despite international markets going through varying degrees of lockdown. With 669 units comprising the Saga, X50 and X70 exported in May, the company’s international sales division recorded its best month since March 2013. As a result, total export sales for 2021 are now less than 100 units behind the total for the whole of last year.

“Car sales in Malaysia dipped in May due to factors such as chip shortages and the implementation of MCO in the middle of the month. Despite most industry players having healthy order books, most brands struggled to meet demand. For Proton, the numbers were high enough to retain second overall in the sales table and we also received a welcome boost from our export division who set a 98-month high despite restrictions on international shipping,” said Roslan Abdullah, CEO of Proton Edar.

Focusing on the future
With the full lockdown in effect (tentatively until June 14), all Proton sales outlets have to be closed. However, its authorised service centres are allowed to operate. Proton owners are requested to make a prior appointment before going to the service centre (which should be within 10 kms of their home address).

The company will also be considering utilising the enforced break to retool its sales plan for the remainder of 2021. It aims to future-proof its business against regulatory changes and external factors such as the coronavirus.

“2020 proved to the world that business as usual can be disrupted without warning. To remain competitive in an unpredictable environment, Proton, along with its vendors and dealers, need to have the flexibility to pivot quickly to take advantage of unexpected opportunities. As such, we will intensify our efforts to implement a framework to meet upcoming regulations locally and internationally which is vital for future growth,” Encik Roslan said.

“We are also finalising our model launch plans for the rest of this year. The current MCO will push some of these dates back, but Proton remains committed to meeting our launch targets and creating some excitement for our customers in 2021,” he added.

With greater attention to overseas business, Proton aims to double export volumes in 2021

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