Proton profit jumps as market share picks up

MALAYSIAN national car maker Proton reported an 87 percent jump in its quarterly profit yesterday and said it was not threatened by the launch of a seven-seater multipurpose vehicle by its domestic rival Perodua.

Proton said in a statement that it posted a net profit of 82 million ringgit (US$24.3 million) for the quarter through September. Revenue rose 13.5 percent to 2.1 billion ringgit as Proton expanded its market share to 29 percent from 26 percent a year earlier.

Proton Managing Director Syed Zainal Abidin Syed Mohamed Tahir said sales had risen 11 percent from the previous quarter, thanks to strong demand for its Exora multipurpose vehicle, which was launched in March, as well as the Saga and Persona sedans.

The Exora marks a turning point in Proton's product range, which previously focused only on passenger cars.

The Exora accounts for at least a third of sales but faces a stiff challenge after compact car maker Perodua launched a multipurpose vehicle touted to be the cheapest in the market.

"We are not going to be threatened," Syed Zainal said.

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