News Proton Commerce loans

Published on February 2nd, 2023 | by Hammer


Proton Commerce Has Issued 22,467 Car Loans In 2022

Loan disbursements grow by 54% as Proton Commerce becomes lead financier for Proton Saga.

2022 was a successful year for national carmaker PROTON as well as its subsidiaries. A fourth consecutive year of growth pushed total sales to 141,432 units, the highest number for the company since 2013, allowing it to retain second place in the national automotive sales table.

Proton Commerce

Similarly, PROTON’s financing arm, Proton Commerce Sdn. Bhd. (Proton Commerce) managed to capitalise on the growth in sales leading to a record-breaking number of loan disbursements.

Incorporated on 27 October 2003, Proton Commerce is a joint venture between Proton Edar and CIMB with the aim of providing finance for Proton buyers. The company’s performance has mirrored PROTON’s growth in sales trajectory and last year, they posted the best results in their history.

For 2022, Proton Commerce issued 22,467 loans to Proton buyers and this also includes loans for fresh graduates buying new Proton cars.

Proton Commerce loans

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 high-water mark.

Proton Commerce

“PROTON faced a tough start to 2022 and this had a knock-on effect for Proton Commerce. However, we mounted a recovery and made up for lost ground to emerge with a new disbursement record.

For 2023, we aim to grow our volume and approval rates even more by leveraging on the continued popularity of the current Proton model range as well as the introduction of new and updated models.


Hopefully, this will propel us forwards to become the number one Proton financier,” said Mooi Fi Phang, Chief Executive Officer, Proton Commerce.


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.


“Aside from extending the validity of our LOUs, Proton Commerce will also honour the interest rate offered at the time of approval and as we offer fixed rate financing, our customers do not need to worry about increasing monthly payments. This will make it easier for Proton buyers waiting for their cars and help control their personal budgets,” added Mooi Fi Phang.

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