by SHAZNI ONG / pic by RAZAK GHAZALI
PROTON Holdings Bhd recorded its second-best monthly sales for the year in August 2020 with 11,378 units sold, up 24.7% year-on-year on the sales tax exemption and pent-up consumer demand.
The national carmaker’s August sales were down 14% from the immediate preceding month. Market share for the month is forecast at 21.6%, while its year-to-date (YTD) market share is estimated to be slightly higher at 21.7%.
“Car sales in Malaysia continued their upward momentum in August as total industry volume breached the 50,000 unit barrier for the second month in a row.
“Despite a number of public holidays shortening the number of business days, strong consumer demand powered by tax-free incentives meant most automotive brands posted strong sales numbers to make up for lost ground in 2020,”
Proton said in a statement yesterday. With 61,672 cars sold so far YTD, the car manufacturer has also managed to beat its YTD sales volume from last year by 46 units, despite sales in March, April and May taking a hit from the Movement Control Order (MCO).
The Persona and Exora models continued to lead their segments, while the Proton X70 remained the best-selling SUV in Malaysia.
The 2,791 X70 units sold were also the third-highest sales ever for the SUV since its launch in December 2018. Proton Edar Sdn Bhd CEO Roslan Abdullah said the company only needed three months to get back on track, after losing sales due to lockdown measures during the MCO.
“By exceeding our YTD volume in August 2019, we are quietly confident of recovery from the headwinds of Covid-19,” he added.
Last week, DRB-Hicom Bhd, Proton’s parent company, said it recorded RM4.74 billion in revenue for the first half ended June 30, 2020 (1H20), boosted by strong car sales due to the tax holiday.
During 1H20, the group’s automotive revenue came in at RM2.87 billion. Its automotive brands represent about 33% of the total industry volume in Malaysia.
Revenue was mainly derived from sales of vehicles and components by Proton, automotive distribution companies, and also from manufacturing and engineering, and aerospace companies.