Proton targets 310k sales by 2030, 500k by 2035; number 1 in Malaysia, no.3 in ASEAN – HLIB Research

According to a research report by Hong Leong Investment Bank (HLIB) Research, Proton’s expected sales target by 2030 is 310,000 units and 500,000 units by 2035, which would put the carmaker at the top sales position in Malaysia as well as among the top three in the ASEAN region.

“We expect Proton to launch one new model per annum for the next six years, with a total investment of RM6 billon, including allocation for product development, production efficiency and capacity expansion,” HLIB Research said in its report.

HLIB Research also pointed out that Proton’s electric vehicle (EV) implementation is on track with the launch of smart EVs in Malaysia and across the ASEAN region from the fourth quarter of this year. As noted in an earlier report, the carmaker is also said to debut its own EV as early as 2025.

“Proton is also collaborating with Gentari for EV development, mobility and ecosystem of new energy. It will leverage Geely’s knowledge and technology to develop its own EV range,” HLIB Research said.

Proton’s year-to-date sales tally this year at the end of September currently stands at 116,832 units, and HLIB Research expects the carmaker to achieve its fifth consecutive yearly sales growth. The previously stated sales target by HLIB Research for Proton this year is 150,000 units, which would represent a 6.1% year-on-year improvement, it noted. This will be support by demand for existing models as well as upcoming ones, with the S70 C-segment sedan due to be launched before the year is over.

Looking to sell your car? Sell it with myTukar.