Proton gains market share despite June TIV slump
The national carmaker sold 11,069 units in June, a marginal year-on-year increase, bringing its year-to-date (YTD) sales to 72,156 units, the company said in a statement today.
Proton's market share rose to 20.7 per cent in June, up from 19.6 per cent in May and 1.2 percentage points higher than its YTD average of 19.5 per cent.
The company estimates the TIV dropped 21 per cent to 53,500 units in June, down from 68,007 units in May, amid mounting external economic pressures including geopolitical tensions in the Middle East and the recent expansion of the Sales and Service Tax.
Export performance remained strong with 414 units shipped overseas in June, pushing total exports to 2,250 units in the first half, a 39.9 per cent increase from the same period last year.
Leading this growth, the group's sole electric vehicle (EV), the Proton e.MAS 7, recorded sales of 4,253 units across domestic and export markets in the first six months. The model currently holds a 24 per cent share of Malaysia's EV market.
Proton Edar Sdn Bhd deputy chief executive officer Zhang Qiang said that despite the challenging landscape, the group managed to outperform the market to increase its share.
"With new models arriving in our showrooms, the outlook is for the company to have a stronger second half of 2025 as we seek to increase sales for our internal combustion engine (ICE) and EV offerings," he said in a statement.
Zhang added that despite lower overall sales in June, the Proton X50 remained the top seller in the B-segment sport utility vehicle (SUV) category, with 1,657 units sold in June, including 353 units for export markets.
Total sales for the model reached 11,361 units for the first half of 2025, marking an 11.3 per cent increase compared to the same period last year.
An all-new X50 will be launched later this month, featuring updated styling, a new 1.5-litre gasoline direct injection engine, and advanced driver assistance features, with pre-launch bookings beginning in June.
Other segment leaders, including the Proton X90 and Proton S70, topped the D-segment SUV and C-segment sedan classes, respectively.
Additionally, the Proton X70 saw the highest YoY growth, with 533 units sold in June and a total of 4,354 units in the first half, up 46.3 per cent compared to 2024.
Looking ahead, Proton plans to expand the e.MAS lineup to more countries and introduce new models.
"The bulk of Proton's sales are from ICE models, but our EV and export segments are showing strong growth potential.
"As EV infrastructure grows and buyer confidence improves, we are hopeful of a quantum leap in EV sales with the introduction of more e.MAS models," Zhang added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
19 hours ago
- Barnama
Scrapping High-Value Goods Tax Will Not Affect RM700 Mln Revenue Target
Credit: Unsplash Scrapping High-Value Goods Tax Will Not Affect RM700 Mln Revenue Target – Economist By Niam Seet Wei KUALA LUMPUR, July 30 (Bernama) -- The government's decision to halt the proposed high-value goods tax (HVGT), formerly known as the luxury goods tax, will not affect the RM700 million tax revenue expected from its implementation, said an economist. Sunway University economics professor Dr Yeah Kim Leng said the move will instead ease concerns over the potential impact of the tax on consumer and tourist spending, as its incorporation into the existing expanded Sales and Service Tax (SST) has removed uncertainty over which items are subject to tax. He explained that since the principles of the HVGT have been integrated into the expanded SST structure, where luxury and discretionary items are now taxed at five or 10 per cent, the rates are effectively the same as those proposed for the HVGT in Budget 2023. 'The revenue target will not be affected as the same SST rate will be applied without the need to define which goods are considered high value,' Yeah told Bernama. The Ministry of Finance (MOF), in a written parliamentary reply on Tuesday, said the government has decided not to proceed with the HVGT implementation. However, it said the principles of the HVGT have been retained under the revised sales tax structure, where luxury and discretionary goods are now taxed at five or 10 per cent. The HVGT was first introduced in the revised Budget 2023, tabled by Prime Minister Datuk Seri Anwar Ibrahim in February 2023. HVGT was initially scheduled for implementation in May 2024 with the proposed tax rates ranging from five per cent to 10 per cent. The government projected that this tax would generate an additional RM700 million in annual revenue. -- BERNAMA
Focus Malaysia
a day ago
- Focus Malaysia
When scrapping the HVGT is akin to sparring Chanel, LV, Rolex while the poor squeezed with expanded SST
WHO can blame man-on-the-street Malaysians who are struggling to cope with escalating cost of living following an expansion to the Sales and Service Tax (SST) scope for being infuriated by news that the Madani government has ditched plan for luxury goods tax tailored for the ultra-rich? This came about after the Finance Ministry confirmed via a written parliamentary reply on Tuesday (July 29) that the government has decided not to proceed with imposition of the high-value goods tax (HVGT) which is fixed at 10%. The given rationale is that elements of the HVGT – which implementation has been delayed since its May 1, 2024 target date – have been incorporated into the revamped sales tax regime where luxury and discretionary items are now taxed at rates of 5% or 10%. To ordinary Malaysians, complexities of the taxation system is perhaps beyond their comprehension. What is obvious though is that such hot potato notion that commoners remain squeezed while the ultra-rich are spared would be rapidly politicised by detractors. Bersatu information chief Tun Faisal Ismail Aziz lambasted the fact that while the HVGT has been scrapped in view of its overlap with SST, the Low Value Goods Tax (LVGT) which came into effect on Jan 1, 2024 is still being imposed side-by-side the SST. 'Regardless, the abolition of HVGT doesn't solve the problem of rising SST rate and SST scope expansion which has resulted in 97% of goods and services that were previously tax-exempted are now taxed by the Madani government,' he reacted on his Facebook page. 'What the people want postponed or abolished are increases in the SST rate and its scope expansion as well as rises in electricity tariff and petrol prices of oil, notably RON95 and diesel, which have resulted in spiralling cost of business operations and living expenses.' Renegade UMNO member Isham Jalil pointedly asked 'who does the government want to protect – the common folks, the tycoons or the super-rich?' 'It should be luxury goods for the super-rich that need to be taxed more, not taxed at the same rate as goods meant for ordinary Malaysians,' countered the former UMNO supreme council who was fired from the party on Dec 7, 2023 for opposing the party's collaborations with DAP in elections. 'This government used to say that only the T15 super-rich had to pay more. But until now the government has not detailed out the definition of T15 and who the super-rich are. 'Instead, the SST tax was expanded, the government collected RM50-60 bil a year and on average the people had to pay more while various subsidies were withdrawn.' All in all, as argued by tax-savvy governance advocate ksampoh@MyOwn Inc (@ksampoh), it is important to understand that the HVGT which is set at 10% 'is not intended as a penalty for affordable goods'. 'Rather, its purpose is to create a level playing field for Malaysian retailers who have historically faced stiff competition from overseas e-sellers that operated without tax obligations,' he clarified on X in response to a post by former Barisan Nasional (BN) strategic communication deputy director Datuk Eric See-To. The former lieutenant of now incarcerated former premier Datuk Seri Najib Razak who also goes by the nom de plume Lim Sian See was accused as having distorted facts and failing to recognise the difference between established tax principles and sensationalised narratives that may mislead the rakyat. – July 31, 2025 Madani scrapped the luxury goods tax (HVGT) after introducing the low-value goods tax (LVGT) at 10% in early 2024. The MOF claims luxury items are now taxed under SST at 5% or 10%. Here's the joke: cheap goods get hit with a 10% tax, but 'luxury' items supposedly get 5% or 10%.… — Eric SeeTo Lim Sian See (@LimSianSeeEric) July 30, 2025
New Straits Times
a day ago
- New Straits Times
Minimum wage deadline looms, can micro businesses keep up?
KUALA LUMPUR: With barely 24 hours to go before the Minimum Wage Order takes full effect on Aug 1, pressure is mounting on micro businesses to adapt, or risk being penalised. The latest wage floor extension, which now covers firms with fewer than five employees, comes amid a cost-sensitive climate. Businesses are bracing for the expansion of the Sales and Service Tax (SST), ongoing United States tariff uncertainties and the looming fuel subsidy rationalisation. Against this backdrop, economists contacted by Business Times agree that fair pay is essential, but remain divided on how effectively micro enterprises can adapt. "It is always a tough balancing act," said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. "Employers need to manage rising costs while ensuring employees are paid fairly. But since the minimum wage is reviewed every two years, micro firms should anticipate and prepare accordingly." Afzanizam believes survival hinges on long-term strategy and breaking away from models built on low-wage labour. "Businesses need to constantly find ways to improve their cost structure and they really need to incur capital expenditure in order to scale up," he said. "If they can do it well, they would have employees paid above the minimum wage, team players who are highly skilled and paid accordingly. That way, they do not have to worry about the changes in the minimum wage when it is due." Putra Business School economist Prof Dr Ahmed Razman Abdul Latiff agreed the pressure is real but said the policy shift is manageable. "These businesses had six months to prepare since the larger firms implemented the wage increase in February. "SST expansion will have limited impact on micro businesses, and other cost drivers like tariff changes and fuel subsidy adjustments have not kicked in yet." He added that recent monetary and fiscal measures, including the overnight policy rate cut, statutory reserve requirement easing and RM100 cash handouts, are expected to help small businesses weather the transition. "This will increase liquidity in the market and help boost revenues. It is anticipated that such increase in revenues will help to cover the incremental cost due to minimum wage and fuel subsidy rationalisation." But for economist Dr Geoffrey Williams, the debate boils down to fundamentals. "If they cannot afford to pay even these low wages then they do not have a viable business model." He argues that the moment calls for reinvention, from flexible contracts to profit-sharing and platform-based models. "These micro businesses could move from fixed salary contracts to flexible working arrangements, trading less working hours for lower pay and releasing employees to run side hustles for themselves. "They should adopt cooperative, sharing or joint incentive models. If they run a five-person company with old-fashioned business models, they won't be able to pay wages above the poverty line. "So they need to run micro-enterprises as small, agile, competitive and innovative ventures with modern business models," he added. In February, the national minimum wage was raised from RM1,500 to RM1,700, for firms with five or more employees. Smaller businesses were given until today to comply. Starting tomorrow, the new wage rule will cover all employers, regardless of size, following the end of a six-month grace period. Failure to comply is an offence under the National Wages Consultative Council Act 2011 and can result in fines of up to RM10,000 per employee, with a further RM1,000 for each day the offence continues after conviction. Meanwhile, the Department of Statistics Malaysia on Monday reported that median monthly wages in the formal sector rose 5.5 per cent to RM3,000 in March, compared to RM2,844 a year earlier. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin attributed the increase to continued economic growth and the positive effects of the revised wage policy. Geographically, the Federal Territory of Kuala Lumpur recorded the highest median monthly wage at RM4,445 in March, followed by Selangor at RM3,300. At the other end of the spectrum, Sabah posted a median wage of RM2,000, while Kelantan and Perlis recorded the lowest at RM1,800.
