Proton Commerce Hit New Record Volume Of Loan Disbursements In 2023

Proton Commerce Sdn Bhd loan disbursements to Proton customers increased by 27,288, setting a new record for the most disbursements recorded since the company's inception. 

Interestingly, more than 2,000 payouts were made in eight of the twelve months, with 2,934 being made in March—a record high—thanks to the rush to fulfill reservations made during the PENJANA incentive period.  

“Looking at the Proton financing business landscape, our annual market share has demonstrated a steady  upward trajectory, progressively advancing from 9% in 2018 to an impressive 18% by the end of 2023, marking  the highest market share we have achieved thus far

“In January and March 2023, our market position was  noteworthy, positioning ourselves as the second-largest entity in terms of market share during this period,” said Mooi Fi Phang, Chief Executive Officer of Proton Commerce.

Additionally, it served as the primary financier for the Proton Saga, the Proton range's most well-liked model. Proton Commerce has dominated the market for the model since the fourth quarter of 2021; in 2023 alone, it accounted for 61% of all loan disbursements. Remarking on the achievement, Mooi stated, "The company’s growth momentum was set in 2022 despite the  initial challenges faced by PROTON in the early part of the year. Proton Commerce demonstrated resilience,  staging a recovery to set a new record in disbursements in 2022 and this echoed throughout 2023 with a growth  rate of 21%.” 

By capitalizing on the ongoing appeal of the current Proton model range and the anticipated spike in demand for the new Proton S70, Proton Commerce is positioning itself to grow its business to unprecedented heights. It is also pursuing EV buyers who are considering buying the smart #1.