KUALA LUMPUR, Nov 25 — Now virtually dependent on Malaysian buyers, Proton Bhd is aiming to triple its sales and for exports to contribute up to a third of that number by 2018.

According to business analysts made privy to its turnaround plan, Tan Sri Syed Mokhtar Al-Buhkary’s Proton is targeting to send some 150,000 cars to foreign markets from a projected total of 500,000 in five years’ time.

The revival plan unveiled by the national carmaker also included rebooting a number of export destinations that have fallen into neglect in recent years, such as the UK and Middle East, and entry into countries where Protons have never before turned a wheel.

It could also see a “global small car” launched early next year with a projected 60,000-unit annual production, according to one analyst cited by the Financial Times business newspaper.

“Given the fast-saturating domestic market, Proton intends to pursue further growth from exports,” AmResearch analyst Thomas Soon was quoted as saying by the FT in its report.

Signalling the intent, Proton’s latest model, the Suprima hatchback, made its foray into the Australian market earlier this month, shortly after it was made available in Indonesia; it is also due in Thailand and Brunei soon.

But it was unclear how Proton planned to overcome the limited appeal and network it possessed in foreign markets where it does not enjoy the price advantage that it does here in Malaysia.

At its nadir, Proton sold 208 cars a year in the UK, a number that placed its buyers in a circle more exclusive than owners of Rolls Royce, Ferrari and Lamborghini models.

In the FT report, the analysts also did not reveal how the national car maker that once sold four out of every five cars in the country, planned to reverse its slide in the home market that has since dwindled 140,000 units last year.

Perodua, the country’s second national automaker, has dominated the sales chart for six years running and Toyota is now threatening to bump Proton down into third spot.

Proton was set up during the Mahathir administration as part of its push to industrialise Malaysia’s then-agrarian economy.

It started life by rebadging Mitsubishi models that were going out of production but has since graduated to producing cars and engines of its own design.

But the prohibitive costs of developing its own platforms and new models has seen Proton revert to the practice of rebadging, basing its Inspira saloon on a Mitsubishi Lancer while a “strategic collaboration” with Honda will see it using the Accord as a special government-only Perdana model.

Proton was bought out by tycoon Syed Mokhtar’s DRB-Hicom in 2012 and continues to enjoy national-car status.