All about Proton

Announced on April 4, 2024, Proton Malaysia recorded sales of 12,666 units (domestic and export) in March (down 13.1% YoY), bringing sales for Q1/2024 to 39,150 units (down 2.8% YoY). The market share for Proton is estimated at 19.3%, the second highest amongst all automotive brands locally.

Sales of the Proton Saga reached 18,247 units in the first 3 months of 2024, marking its strongest Q1 performance in a dozen years. In March alone, 5,906 units were sold, including 93 units for the export market. Meanwhile, Proton S70 sold 2,072 units in March (35 units export), bringing total sales for Q1 to 5,828 units. 

In the month of March alone, Proton continues to be a major player in the local SUV market as the X50 sold 1,626 units, while the X70 sold 603 units. The company’s first NEV, the Proton X90, sold 326 units in March.

Proton added that while new model launches continue to proliferate in Malaysia, demand for vehicle at an affordable price point remains strong.

(From Proton press release on April 4, 2024 and on April 5, 2023)

Announced on March 26, 2024, MCE Holdings Berhad (MCE)’s wholly owned subsidiary, Multi-Code Electronics Industries (M) Berhad, had secured contracts to supply electronic and mechatronics parts for Malaysian automaker Proton’s car model.

The supply of these parts is expected to start in Q2 of the financial year ending July 31, 2025 for a duration of 84 months.

The project is expected to generate total revenue of around MYR 55.19 million for MCE Group over the 84-month period whilst the estimated total investment cost is MYR 0.65 million.

(From Bursa Malaysia announcement dated March 26, 2024)

Reported on March 13, 2024, president of the Malaysia Fujian Chamber of Commerce and Industry (MFCCI) revealed that over a hundred parts vendors affiliated with Proton Holdings Bhd are facing severe financial strain due to escalating operational expenses.

MFCCI president said the Proton Vendors Association (PVA) has already reached out to Proton to address the challenges they are dealing with, but their appeals have been disregarded.

MFCCI pointed out that if this issue continues, it might eventually lead to the collapse of many vendors, affecting thousands of employees across the automotive industry chain. MFCCI believed this issue followed Proton's failure to fulfill the promised quantity of parts orders for its 50, X70, and X90 models, which has resulted in a significant reduction in production output by up to 50%.

Moreover, MFCCI criticized Proton’s decision to import competitively priced locally assembled (CKD) parts from China, citing the reluctance of Malaysian vendors to lower prices as the rationale behind this move. Such actions have further worsened the relationship between Proton and the vendor association.

(From an article of New Straits Times on March 13, 2024)