Proton Commerce Sets New Record In 2022

Proton Commerce announces its loan disbursements had increased by a volume growth of 54% in 2022. As a result, said year stood as a record-breaking one for the division as it issued 22,467 loans to Proton buyers.

The figures were obtained after more than 2,000 payments were made in eight out of the last twelve months, with September's 2,872 payments setting a record as well.

According to a statement released by Proton, the company's total sales increased for the fourth year running, reaching 141,432 units and ranked as its highest level since 2013. This also allowed the company to maintain its position as the nation's second-largest auto seller.

Alongside this growth, its loan approval rate increased, reaching an all-time high of 59% in May and June. Additionally, it served as the primary financier for the Proton Saga, one of the most high in-demand models in the Proton lineup.

Additionally, Proton Commerce has been the model's market leader for five straight quarters starting in the fourth quarter of 2021. The streak was highlighted by the company financing 32% of all Proton Saga units sold in November of last year, thus charting another record achievement here too.

Despite a tough start to 2022, Proton Commerce CEO Mooi Fi Phang said that the company mounted a recovery and made up lost ground, which ultimately led to this record-breaking feat.

“For 2023, we aim to grow our volume and approval rates even more by leveraging on the continued popularity of the current Proton model range as well as the introduction of new and updated models’’ Mooi added further.

Recently, Proton Commerce also introduced a new perk for its clients a month into the new year where the validity of letters of undertaking (LOU) will be extended to 180 days from 90 days with immediate effect.

This approach makes it more convenient for Proton buyers dealing with long waiting periods for the variant of their choice. More than that, it will also honour the interest rate that was provided at the time of approval, confirmed Mooi.