Finance companies reach agreement with Proton to provide credit facilities to dealers to fund storage
KUALA LUMPUR (November 15): Digital SME finance platform Funding Societies is collaborating with domestic automaker Proton Holdings Bhd to provide credit facilities to dealerships to finance the purchase of cars for floor storage.
In a statement on Monday (November 14th), Chai Kien Poon, Malaysia’s country head of finance companies, said demand for personal vehicles has increased since the second half of 2020.
“Underlying this growth are concerns about shared transport (Covid-19 health crisis) and accommodating government policies during the pandemic.
“Through the finance companies’ revolving credit facility, Proton dealers can capitalize on this growth by increasing their inventory for sale by increasing their inventory of used cars,” he said.
Chai said the revolving credit facility provides Proton dealers with a more seamless experience and they can use the facility anytime and anywhere upon activation.
Meanwhile, Proton Edar Managing Director Wan Ahmad Fadzli Wan Mustafa said that with the increase in Proton’s sales volume over the past few years, the company has seen an increase in exchange or exchange transactions. ‘exchange.
“Through the dealer financing service provided by finance companies, our dealers can finance the purchase of floor inventory to enable the trade-in transaction,” he said.