In a statement today, Proton Holdings Bhd said its Q1 2023 market share grew 4.5% y-o-y to 21.2%.
The national automotive company said for March alone, 14,573 units (domestic and export) were sold, an increase of 3.8% over February and 11.9% more than the same month in 2022.
“The company’s market share for March was estimated to be 18.7%, allowing it to maintain second place in the sales table rankings,” it said.
Proton said car sales in March reached a new record high as total industry volume (TIV) was estimated at 78,000 units, breaking the previous high of 76,657 units set in December 2022.
“Q1 has been exceptionally good for Proton, and our achievement of over 40,000 units sold is something we are justifiably proud of.
“However, we must consider that sales for the first three months were inflated because brands were rushing to deliver cars for bookings made during the National Economic Recovery Plan (Penjana) incentive period,” said deputy CEO Roslan Abdullah.
He added this was especially true as the deadline to deliver those bookings was March 31, 2023, and proven by the record estimated TIV number during the month.
Roslan believed a better reflection of market sentiment would emerge by the end of Q2 2023.
“But we remain confident of maintaining our sales momentum. We will be launching the Proton X90 soon and will also have more additions to the range later in the year.
“At the same time, we recently announced our commitment to expanding our future New Energy Vehicle (NEV) offerings, and this will take the brand into new market segments as we seek out long-term growth to fulfil our 10-year plan,” he said.
Proton said Proton Persona maintained its position as the B-segment sedan market leader for the third month in a row, and sales gained traction in March, reaching 2,421 units sold.
“The Persona’s total sales for Q1 hit 6,773 units, which is equivalent to an increase of 79.2%,” it said.
Meanwhile, Proton said the popularity of the Proton X50 sport utility vehicle has never been challenged since its introduction.
“The B-segment sport utility vehicle (SUV) continues to not only lead its own segment but remains the best-selling SUV in Malaysia with 3,414 units sold in March.
“Q1 sales grew 34.7% to 9,668 units over the same period in 2022, while Proton Exora retained its standing as the best-selling C-segment multi-purpose vehicle with 426 units sold in March,” it said.
Proton Saga, which racked up a second consecutive month of breaking the 6,000-unit barrier, saw 6,313 units sold last month, Proton said.
It said Proton Saga managed to rack up Q1 sales of 17,446 units, a surge of 84.6%, but the growth rate was masked by floods affecting Saga’s production at the beginning of 2022.
“Proton Iriz and Proton X70 achieved sales of 712 and 1,272 units, respectively,” it added.