KUALA LUMPUR: Proton Holdings Bhd has expanded into the Caribbean by partnering with Ansa Motors Ltd in Trinidad and Tobago, a company with a century of experience in the automotive industry, since March this year.
The national carmaker said the tie-up had yielded promising results with buyer response to its car models exceeding initial expectations.
Year-to-date, Proton has shipped 261 units to the country in 2024, achieving 101 per cent of its target volume and bringing the total number of Proton vehicles shipped there to 366 units since calendar year 2023 (CY23).
Proton Edar chief executive officer Roslan Abdullah said building a strong alliance with a local distributor with a solid presence in the region is crucial for the group to expand to a new territory.
"Together, we can harness our collective strengths to navigate challenges, seize opportunities and drive lasting success in automotive markets overseas, thus expanding Proton's footprint and creating opportunities for the local ecosystem through increased production volumes," he said in a statement.
Ansa Motors head of regional business Jerome Borde said the technology and pricing of Proton vehicles are strengths the company hopes to exploit, making them very enthusiastic about the future.
"We needed a value for money brand for segments we had no presence in, and the Proton brand certainly filled those spots," he noted.
Trinidad and Tobago, with a population of just 1.5 million, has an automotive industry that resembles those in more developed countries.
Car buyers are increasingly interested in advanced features like hybrids and electric vehicles (EVs).
As wealth increases, luxury vehicles are becoming more popular, and new brands like Proton are gaining significant acceptance.
With over 25 subsidiaries across the Caribbean, the Ansa McAL is one of Trinidad and Tobago's largest conglomerates.
While AnsaMotors has successfully navigated challenges throughout its 105 years of operation, today's challenges require new skill sets.
To stay competitive and relevant against new market entrants, including grey import vehicles, the company is expanding its brand presence in the region.
Similar to many other developing nations, the automotive market in Trinidad and Tobago is slowly warming up to electric vehicles (EVs) with hybrids being the main growth attraction in the short term, Ansa Motors opined.
It added that the shift will be exponential once units become more affordable with more options entering the market.
Since launch, Proton has exported 6,501 X series vehicles to 18 other countries, including Trinidad and Tobago,
Brunei, Egypt, Nepal, and Ghana, paving the way for future expansion into more export markets.
Previously, Proton launched its best-selling SUV models – the X90 and X50 in the dual-island Caribbean nation on March 13 this year.
As local demand grew, Ansa Motors decided to up its ante with an increased target to sell 300 units in 2024.
The company was picked by Proton on the back of an impressive record and strong automotive background.
Conversely, Proton models were chosen for their quality, record in Malaysia and suitability of the geographic and demographic characteristics of the region.