National Carmaker Proton reported a new record for its first quarter earnings. Over the first three months, Proton’s sales have been encouraging thanks largely to the X70 SUV. Registrations until March totaled 6,145 units representing a market share of 11%, an improvement of 2.6% compared to the same month in 2018.
According to Proton, the spike in car registrations outpaced the Total Industry Volume (TIV) by four times. In fact, the TIV for March saw an increase by 11.8 % compared to last year. From the total registrations, Proton took up 46.1 %, equivalent to a growth rate nearly 4 times higher than the industry as a whole. For the first three months of 2019, the cumulative figure is 43.5% or more than 6 times the TIV number of 6.7%.
The soaring sales record is because of the X70 SUV; the model alone had 2,979 registered units in March. It was the top SUV for the month and the first three months of the year. As a matter of fact, the X70 is so popular that had the most registrations for the quarter, with some 25,000 bookings to date.
Proton is more optimistic for following quarters with new models
Despite a record quarter, Proton remains third in the rankings, but has built a sizeable lead over the fourth best best-selling automotive brand in the country.
Proton’s Chief Dr Li Chunrong said, “The numbers posted by Proton in 2019 is possible due to the popularity of the X70, growth in the number of 3S/4S outlets, an increase in product quality, improved customer service and many other related factors.”
With an increasing demand for the Proton X70. Proton is striving to reduce waiting times for its customers. Meantime, Proton wants to ensure that the SUV gets the highest ratings for the Initial Quality Study (IQS) rankings for Malaysia in 2019.
Aside from the positive sales, Proton continues to expand on 3S/4S centers in the country. They are pushing for existing dealerships to upgrade their facilities and new dealerships to take up the Proton badge. As Proton product portfolio grows, so too does the dealership network…