Major car brand exiting South Africa

• Proton is exiting South Africa, with its local import and distribution operation to be terminated once the remaining inventory is sold.
• Proton's exit from South Africa is attributed to poor sales performance, which was partly due to a sharp depreciation of the rand at the time of its product launch in 2022.
• The termination of Proton's local operation may not be the end for the brand in South Africa, as Geely, its Chinese owner, may continue to sell rebadged versions of Proton's cars through its local operations.