Friday 29 Mar 2024
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SHAH ALAM (Nov 24): Proton Holdings Bhd is retreating from several of its existing international markets amid intense competition within the automotive industry, as the national carmaker strategises for better growth and presence in its next export markets.
 
“Exports this year have been very challenging [for] us,” said chief executive Datuk Ahmad Fuaad Kenali. “Therefore, we are retreating from several of our markets.” 
 
“That said, we are studying our export figures and looking at ways to increase our competitiveness, before we enter new markets or re-enter existing ones,” 
he told reporters at the launching ceremony for the new Proton Ertiga MPV EEV.
 
Though Proton has been applauded for aggressively turning itself around by launching four new models this year alone, and being one step closer to selecting its foreign strategic partner, Ahmad Fuaad said it is not resting on its laurels just yet, as it strives to reaffirm its presence internationally.
 
Proton currently exports its cars to at least six countries.
 
“Due to several circumstances and the regulatory environment of certain foreign markets, we had to withdraw ourselves and slow down on our export activities. Notwithstanding this, our export department is actively studying potential markets that might be willing to accept our products,” said Ahmad Fuad.
 
Meanwhile, it was announced at the event that Proton Ertiga will be priced between RM58,800 and RM64,800. 
 
The MPV, which is a rebadge of the Suzuki Eriga, is assembled at Proton’s manufacturing plant in Tanjung Malim, Perak, with vehicle parts and components provided by Suzuki Indonesia.
 
Proton, along with its parent company DRB-Hicom Bhd, had forged a partnership in 2015, with Japan’s Suzuki Motor Corp.

At 3 p.m., DRB-Hicom’s share price was 0.9% higher at RM1.13, valuing the company at RM2.22 billion.

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