Selangor Journal
Proton Holdings Bhd (Proton) unveiled its premium B-segment sport utility vehicle (SUV) X50 during the SUV media preview in Tanjung Malim, Selangor, on September 15, 2020. — Picture by BERNAMA

Proton: X50 to drive domestic market share growth, export plan — CGS-CIMB

KUALA LUMPUR, Oct 28 — CGS-CIMB Securities Sdn Bhd expects the Proton X50 to be the new growth driver for the national automaker, given that it offers exposure to new markets in ‘B-segment sports utility vehicle (SUV)’.

Analyst Mohd Shanaz Noor Azam said the X50 is expected to jumpstart Proton’s export growth strategy given that the group plans to export the car to the Thailand market.

“We like DRB-Hicom as a proxy to Proton’s turnaround plan,” he said in a note today.

Yesterday, Proton launched Proton X50, the second vehicle to be jointly-developed by Proton and Geely.

The collaboration offers flexibility for the X50 to be built in multiple sizes and powertrain options, including for electrification.

Since September 16 after it was opened for registration, the SUV, priced between RM79,200 and RM103,300 recorded over 23,000 bookings, of which 70 per cent were for the flagship and premium variants.

Proton started production roll-out of the X50 at its new production line in Tanjung Malim on Sept 20.

Mohd Shanaz said Proton’s production is not affected by the recent positive COVID-19 cases reported in its engineering division in Shah Alam.

“We learnt that Proton is in the midst of ramping up production, and it is currently producing around 4,000 and 3,000 units of the X50 and X70, respectively, per month in Tanjung Malim,” he said.

— Bernama

 

 

 

Top Picks

BNM: Malaysia’s official reserve assets at US$114.28 bln as of February 2024

SC issues revised guidelines on conduct for capital market intermediaries

MIDF Research: Malaysia can become major supplier of sustainable aviation fuel in Asia Pacific

Editor Selangor Journal