KUALA LUMPUR, Jan 29 — Proton Commerce Sdn Bhd, the financing arm of Proton, is eyeing an even higher number of loan disbursements in 2024 as it strives to be the number one financier of the national carmaker’s vehicles.
Last year, Proton Commerce extended a total of 27,288 loans to Proton buyers, hitting a new high in the number of disbursements since its establishment two decades ago, the car maker said in a statement today.
Proton said eight out of the 12 months in 2023 witnessed more than 2,000 disbursements, with March reaching an all-time high of 2,934 due to the rush to deliver bookings made during the National Economic Recovery Plan (Penjana) incentive period.
Proton Commerce chief executive officer Mooi Fi Phang said the firm’s annual market share in Proton financing has demonstrated a steady upward trajectory, progressively advancing from nine per cent in 2018 to an impressive 18 per cent by the end of 2023.
“In January and March 2023, our market position was noteworthy, positioning ourselves as the second-largest entity in terms of market share during this period.”
Through a collaboration between Proton Edar and CIMB Bank, Proton Commerce provides financing solutions for Proton buyers and its performance mirrors the upward trajectory of Proton’s sales over the past five years.
Proton achieved its fifth consecutive year of sales growth in 2023, with total sales domestically and overseas of 154,611 units, its strongest sales performance since 2012.
Proton Commerce, which is the lead financier for the best-selling Proton Saga, has consistently held the leadership position for the model since the fourth quarter of 2021, the statement said.
In 2023, 61 per cent of total loan disbursements were for the Proton Saga.
“Proton Commerce demonstrated resilience, staging a recovery to set a new record in disbursements in 2022, and this echoed throughout 2023 with a growth rate of 21 per cent,” Mooi said.
With 2024 marking Proton Commerce’s 20th anniversary, the company has lined up strategic plans to uplift its business by leveraging the sustained popularity of the existing Proton model range as well as the expected surge in demand for the new Proton S70.
Mooi said it aims to offer competitive finance packages for Proton’s newest models such as the X90 and S70, while also reaching out to electric vehicle customers, interested in purchasing the smart #1.
— Bernama\
