Proton commerce hit new record volume of loan disbursements in 2022

KUALA LUMPUR: Proton Holdings Bhd’s (Proton) financing arm, Proton Commerce Sdn Bhd, achieves a record-breaking year in 2022 with 22,467 loans issued to Proton buyers, representing a volume growth of 54 per cent over that in 2021.

In a statement, Proton said a fourth consecutive year of growth pushed total sales to 141,432 units, the highest number for the company since 2013, allowing it to retain second place in the national automotive sales table.

"The numbers were achieved after eight out of 12 months saw more than 2,000 disbursements with September setting an all-time high of 2,872,” it said.

Proton said growing together with the volume of disbursements was an increase in loan approval rate with May and June achieving an all-time approval rate high of 59 per cent.

Besides, another feather in the company’s hat last year was its achievement to be the lead financier for the Proton Saga, the most popular model in the Proton range.

Beginning from the fourth quarter 2021, Proton Commerce has been the market leader for the model for five consecutive quarters, which was punctuated by financing 32 per cent of Proton Saga units sold last November, another new highwater mark.

Proton Commerce chief executive officer Mooi Fi Phang said Proton has faced a tough start to 2022 and this had a knock-on effect on Proton Commerce.

However, the company mounted a recovery and made up for lost ground to emerge with a new disbursement record.

"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,” he said. - Bernama

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