KUALA LUMPUR (Sept 24): Perusahaan Otomobil Nasional Sdn Bhd's (Proton) plan to return to profitability by 2020 is on track, said its chief executive officer Dr Li Chunrong (pictured).

"I can say that our turnaround plan (for Proton) is on track," Li told reporters at a press conference after the launch of the automobile manufacturer's redesigned logo and tagline.

Li reiterated that Proton aimed to become the number one carmarker in Malaysia and number three in Asean by 2027, adding that its sales growth has shown positive trend.

Proton's sales grew 36% to 61,396 units in the January to August period, against 45,062 units sold in the same period in 2018, pushing its market share for the year to 15.3%. This compares with the 5% drop in the total industry volume in January to August 2019.

On its international sales front, Li expects Proton to maintain its car sales at 1,000 units in 2019, similar to 2018 but more than 248 units sold in 2017. The carmaker currently has a presence in a few countries, including Egypt, Pakistan and Brunei.

He added that Proton's good products, service and system will help the group export more gradually in future.

Proton today unveiled its new logo and tagline, which outlined its ambition to be a global, modern and automotive brand. The new tagline was changed to "inspiring connections", from "It's is in the drive" previously.

"As we unveil our new logo, we are marking the next chapter in Proton's journey. Driven by our new ethos, I am proud to say that the past two years have proven that we are capable of making this journey to becoming a modern automotive brand a success," said Proton Holdings Bhd chairman Datuk Seri Syed Faisal Albar.

He added that Proton's new branding is driven by three core values, innovative technology, reliability and international.

Speaking on the adoption of the new logo, Li said it will first be introduced with its popular sport-utility vehicle (SUV) Proton X70 with the completely knocked-down (CKD) version, which is expected to be launched by the fourth quarter of this year.

When asked why it will only be introduced at a later stage as Proton had already launched five new models in the first eight months of this year, Li said the group did not rush to launch new branding.

He said that instead, Proton emphasised on improved fundamentals, such as solving customer issues, making a better product, upgrading dealer network and restoring customer trust.