Apart from Proton sales seeing strong sales, Proton Commerce also manage to capitalize on the sales growth with record-breaking number of loan disbursement. Proton Commerce is a joint venture between Proton Edar and CIMB, and it mirrored Proton’s growth in sales trajectory with their best result in history.
For 2022, Proton Commerce issued 22,467 loans to Proton buyers. The numbers were achieved after eight out of twelve months saw more than 2,000 disbursements with September setting an all-time high of 2,872. Overall, this represents volume growth of 54% over 2021 and is also a new volume record. Growing together with the volume of disbursements was an increase in loan approval rate with May and June achieving an all-time approval rate high of 59%.
Another feather in the company’s hat last year is its achievement to be the lead financier for the Proton Saga, the most popular model in the Proton range. Beginning from Q4 2021, Proton Commerce has been the market leader for the model for five consecutive quarters, which was punctuated by financing 32% of Proton Saga units sold last November, another new highwater mark.
One month into the New Year, Proton Commerce has announced a new benefit for its customers. Effective immediately, the validity of Letters of Undertaking (LOU) issued will be extended from 90 to 180 days making it more convenient for buyers of Proton models who face a long waiting time for the variant of their choice.
