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LATEST PROTON NEWS By Broadspeed Online Editor
NEW PROTON MPV
Proton's new Exora model (an MPV) will boost sales volumes for the company in the short term but the car maker’s economic performance could still deteriorate in the longer term, suggest motor analysts. “Proton results for the current quarter (end June 30th) should improve when the all new Proton Exora sales factor within the results,” said one analyst. Launched 15 April, the Exora received more than 11,000 bookings to date, not bad in this climate. However, longer term sales growth for the Exora might come under some pressure when rival car company Perodua sells its own new MPV in 4Q 2009, the analysts added. For Proton's financial year which ends 31 March (FY 09), Proton showed a net loss of 320 million RM, equivalent to 58 sen per share, compared to profit of 184 million RM, or 33.6 sen per share in FY 08. Total revenues rose to 6.5 billion 5.6 billion RM. More than 11,000 new bookings have been received for Proton Exora, thus far. The loss is attributed to property impairment, plus write-downs on plant equipment and inventory on car models impacted by contracting volume. The ever softening car industry is as a result of the economic crisis and this also had adverse affects on Proton's performance in the 2H financial year.
ABOUT PROTON
Proton is Malaysia's largest carmaker. Proton has been established by the Malaysian government and privately invested since its was established in 1983. This makes Proton one of the newer car makers in the world. Apart from a liaison with Mitsubishi Motor in Japan (rather like Fiat, Mitsubishi Motor spreads its wings far and wide to extend its reach), it has largely created a unique sense of direction. Proton also owns Lotus Cars in the UK, following a court ship established by the CEO of a reformed Automobili Bugatti, Sr Romano Artioli. If that sounds complex, it is no less so than the car maker's own position in its Malaysia, where its cars have held a majority market share for years, but have been badly affected by imported models. This difficult Malaysian position makes the "grey import" market in the UK look insignificant. Whilst Proton has leant on Mitsubishi Motor for its engineering and even design, variable quality has prevented any real growth in market share. Though Proton cars have been dependable, they lack in style and presentation. Much of this is changing with a major investment by Proton in design and manufacture technique. The latest new Proton models feature platform engineering by Lotus, and greater attention is being paid to the quality of materials. There is clear evidence that dramatic improvement appears on the latest Proton models to emerge from Malaysia and Proton is sure to start making in-roads soon in export markets, which will greatly the firm's succeess and prosperity.
