Proton posts $182US million Q2 loss

Proton logo

GM and Ford aren't the only two automakers struggling with huge losses this quarter. Malaysian automaker Proton is reportedly about to announce a second quarter loss of RM700 million (Malaysian Ringgit), or $182US million. The loss this quarter follows a Q1 loss of RM12.4 million and is mainly due to losses from Italian motorcycle manufacturer MV Agusta, which is an overseas subsidiary of Proton. To Proton's credit the company had warned of additional heavy losses after its Q1 earnings were announced and this quarter's huge hit is an effort by the company to clean up its books for an upcoming partnership with a foreign automaker, presumably Volkswagen, with whom talks have been ongoing for some time. Ironically the report from the Business Times notes that Proton's unit sales were excellent last quarter.

Reader Comments (Page 1 of 1)








Autoblog Podcast #158: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

 
 

Subscribe via: iTunes | RSS


Featured Galleries

  • Gran Turismo 5 Demo
  • Spy Shots: 2011 Lincoln MKX
  • Spy Shots: 2011 Ford Edge
  • MINI Beachcomber concept
  • Gold Mercedes-Benz SLS for Dubai Motor Show
  • 2011 Mercedes-Benz E-Class Cabriolet
  • 2011 Audi A1 Graffiti Teasers
  • Reader Spy: SRT-prepped Dodge Journey R/T
  • 2011 BMW Z4 sDrive35is
  • Ferrari P540 Superfast Aperta
  • 2010 Dodge Viper ACR-X
  • First Drive: 2010 Lexus GX460
AOL Autos

Find Your Next Car

Autoblog Video


Autoblog Green

BloggingStocks

Download Squad

Engadget

Joystiq

Autoblog Spanish

Switched.com

FanHouse

Asylum