KUALA LUMPUR: Proton Commerce, a collaboration between Proton Edar Sdn Bhd and CIMB Group Holdings Bhd, extended a total of 27,288 loans to Proton buyers last year, the highest ever number of disbursements recorded since its establishment.
This was on the back of cumulative sales of 154,611 units for Proton Holdings Bhd, marking the company's highest sales figure since 2012.
Eight out of 12 months witnessed more than 2,000 disbursements, with March reaching an all-time high of 2,934, a figure achieved due to the rush to deliver bookings made during the Penjana incentive period.
"Looking at the Proton financing business landscape, our annual market share has demonstrated a steady upward trajectory, progressively advancing from 9.0 per cent in 2018 to an impressive 18 per cent by the end of 2023, marking the highest market share we have achieved thus far.
"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," said Proton Commerce chief executive officer Mooi Fi Phang in a statement.
A notable accolade for Proton Commerce in the past year was securing its status as the lead financier for the Saga, the best-selling model in the Proton lineup.
Since Q4 2021, Proton has consistently held the leadership position for the model, and in 2023, 61 per cent of total loan disbursements were for the Saga.
"The company's growth momentum was set in 2022 despite the initial challenges faced by Proton in the early part of the year. 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.
As 2024 marks Proton Commerce's 20th anniversary, the company has lined-up strategic plans to up-lift its business to greater heights by leveraging on the sustained popularity of the existing Proton model range as well as the expected surge in demand for the new S70.
Proton Commerce offers competitive finance packages for Proton's newest models such as the X90 and S70 while also reaching out to EV customers who are interested to buy the smart #1.