Proton’s First Quarter 2020 Results

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April 8, 2020, Subang Jaya – Proton Holdings Bhd, the second largest national carmaker in Malaysia, has recorded a 20.4 percent increased in its sales for the first quarter of 2020, despite a 41 percent decrease in March 2020, mainly due to the Movement Control Order (MCO).

“While our performance in January and February was very strong and far ahead of 2019, our momentum was slowed due to the MCO. However, the safety of Malaysia and its people is far more important than any commercial considerations, so Proton stands by the government on the measures taken,” said its chief executive officer Dr Li Chunrong in a statement.

A total of 21,757 units were sold in the first three month of this year, which resulted in the company’s Total Industry Volume (TIV) market share grew from 17.4 percent to 20.1 percent.

In comparison to Q1 2019, Proton’s volume seller, the Saga, showed an increase of 36 percent with a total of 8,824 unit sold, while sales for the Iriz grew by 602 percent with 2,009 units. At the same time, the Persona recorded a 243 percent gain with 5,677 units and the Exora grew by 17 percent to 1,091 units. 

For the month of March, Proton sold a total of 3,277 units which is a decrease from March 2019 and 67 percent decrease from February 2020.
Looking agead, the company sees 2020 as a very challenging year as the fallout from Covid-19 after the MCO ends, put businesses in unchartered territory. For now, Proton has continued to operate with its staff working from home and a skeletal workforce, approved by Ministry of International Trade and Industry, maintains critical equipment at its facilities. 

“We are using this time to strategise and plan our next moves. Challenge is something that we embrace. In a sense, because Proton has fought to return to a much stronger position, my team and I are prepared to weather this storm. Considering our improvement over the last two years, I am quietly confident that Proton will be able to overcome this crisis as we stay focused on our long-term goals,” Li said.

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