Pro­ton sales jump in July

The 45.7% in­crease is eight-year high for car maker

The Star Malaysia - StarBiz - - News - By EU­GENE MAHALINGAM eu­genicz@thes­

PETALING JAYA: Sales for Pro­ton Hold­ings Bhd jumped 45.7% year-on-year (y-o-y) to 13,216 units in July, mark­ing an eight-year high for the na­tional car com­pany.

In a state­ment yes­ter­day, Pro­ton said sales were spurred by strong de­mand for four core mod­els, namely the Saga, X70, Per­sona and Ex­ora.

“With 13,216 units sold, July was Pro­ton’s best sales month in 2020 thus far and is also its high­est monthly sales vol­ume since June 2012. Four mod­els ended July as sales lead­ers in their re­spec­tive seg­ments, as over­all sales grew by 37.3% over June 2020 and in­creased by 45.7% over the same month in 2019.”

An an­a­lyst said the surge in sales could be at­trib­uted to the gov­ern­ment’s tax in­cen­tives.

“The re­cov­ery in car sales last month can be cred­ited to the sales tax-holiday that com­menced on June 15.

“Fur­ther­more, with the eco­nomic un­cer­tainty cre­ated by the Covid-19 pan­demic, we see more peo­ple down­grad­ing to cheaper ve­hi­cles, es­pe­cially na­tional makes,” he said.

Mean­while, Pro­ton said its year-to-date mar­ket share as at July 2020 stood at ap­prox­i­mately 21.8%, a growth of 6.7% over the same time pe­riod last year.

“With this growth in sales, the vol­ume gap com­pared to 2019 for Pro­ton had shrunk to just 4.2% (50,294 units com­pared with 52,499 units pre­vi­ously), which is sig­nif­i­cantly less than the forecast gap for to­tal in­dus­try vol­ume (TIV) at 33% (230,929 units com­pared with 347,177 units).”

The Saga led sales for Pro­ton in July, with the com­pany sell­ing 5,421 units dur­ing the month.

The na­tional car com­pany said sales of the Saga were boosted by all 1,100 units of the Saga Anniversar­y Edi­tion be­ing booked within five days of launch on July 9.

“It was also the high­est num­ber achieved by the model since April 2014.”

Ad­di­tion­ally, 3,087 units of the X70 sports util­ity ve­hi­cle (SUV) were sold last month, mak­ing it the best-sell­ing SUV in Malaysia and in­creas­ing its mar­ket share to 25.6% (4.3% higher than 2019).

“The com­pany sold 3,043 units of the Per­sona in July, as the model ce­mented its po­si­tion at the top of the B-seg­ment sedan sales ta­ble.

“The Ex­ora mean­while saw sales of 792 units, its best sales month since Au­gust 2016, which en­sures its reign atop the C-seg­ment multi-pur­pose ve­hi­cle mar­ket re­mains un­chal­lenged,” said Pro­ton.

On its out­look for the month of Au­gust, the na­tional car com­pany said it will look to con­tinue to ex­cite the mar­ket and stim­u­late sales in prepa­ra­tion for more model in­tro­duc­tions later in the year.

Pro­ton’s to­tal do­mes­tic and ex­port sales for 2019 surged by 36,077 units or 55.7% y-o-y to 100,821 units. Pro­ton’s car sales had in fact sur­passed the 64,744 units sold in en­tire 2018 by Septem­ber 2019. In Jan­uary, the group had set a target to sell 132,000 ve­hi­cles this year.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.