Good news to end the working week. Proton is said to be planning to offer new as many as seven models and definitely not including additional projects like the recently introduced special editions.
CGS-CIMB’s analyst Mohd Shanaz Noor Azam said in a note today with The Edge business daily and DRB-Hicom, Proton is focusing on an active product lifecycle management as it plans to introduce six to seven models based on new technology integration and joint-development programmes over the next seven years as part of its mid-term strategy.
The national carmaker plans to be the third-largest in ASEAN by 2027 with a reported sales figure of 400,000 units. The company has been on a steady sales growth path since its acquisition by Zhejiang Geely Holding in May 2017, with two models from the Chinese giant aiding in both sales volumes and a much more positive brand experience.
Proton closed the tumultuous 2020 with 109,716 units which is a growth of 8.8% over 2019. Its market share also increased to an estimated 21.1%.
In order to achieve third in ASEAN, Proton must first overtake Perodua that plans to sell 240,000 units this year, thanks to the addition of the Ativa compact SUV.
The business daily also reported that Proton is continuing to ramp up production of the in-demand new X50 and X70 models at its Tanjung Malim plant, where they both have an order backlog of over three months.
The partnership with Geely has been on a positive note and that is a win for the customers and the industry as a whole.
Source: The Edge Markets