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In May last year, the group recruited former Prime Minister Mahathir Mohamad as Proton chairman in a desperate bid to improve its earnings. In September, the automaker launched the Iriz compact car, the new centerpiece of its turnaround strategy. But sales of the Iriz so far are disappointing. Monthly production of the new car is languishing at 2,700 units, well below the maker's target of 4,500, according to local media.
Overall Proton sales in 2014 fell 17% from the previous year to about 115,800. The carmaker's market share, which was once over 50%, has dropped to 17%, the lowest this century.
Experts say Proton is continuing to face tough challenges in its quest to become a more competitive automaker. One reason is that it is proving difficult for Proton to shed its image as a maker of low-quality cars, said one securities analyst.
http://asia.nikkei.com/Business/AC/Malaysian-conglomerate-struggles-to-turn-car-unit-around
