Proton CEO Dr.Li Chunrong with the popular X70.
KUALA LUMPUR: The sales volume of Proton will continue to be the key driver of the local car industry, with the locally assembled X70 stepping up the pace, says AmInvestment Bank today.
With local assembly, the X70 will see a price cut when it rolls out in November, said the bank.
“We look forward to the upcoming X70 CKD in November, where DRB-Hicom’s management has indicated that there will be a price reduction for the popular SUV,” it said in a note today.
With the recent launch of Saga, the bank is confident Proton would be able to maintain strong sales through the rest of 2019.
According to a media report recently, the automaker registered a total sales volume of 8,600 units in July, translating to a market share of 16.5 per cent for the month and 15% on a year-to-date basis.
Proton sales stood at 52,200 units for the first seven months of the year, recording a growth of 48 per cent year-on-year.
Meanwhile, July 2019 total industry volume (TIV) rose 20 per cent month-on-month but dipped 26 per cent year-on-year to 50,900 units.
For the first seven months of 2019, TIV was down 3.0 per cent to 347,200 units from 358,100 units in the same period last year.
“While we have yet to receive the official Malaysia Automotive Association numbers for the other brands and the total industry volume breakdown, it is highly likely that Proton has ousted Honda and claimed its position as the runner-up in YTD market share.
“With the sustained momentum and deliveries from volume-oriented models like the Persona and Iriz, we strongly believe that Proton will finish second by the end of 2019, behind Perodua,” said the bank.