More than half of all Toyota Camry and Honda Accord sold in Thailand are hybrids
Hans · Sep 2, 2022 02:26 PM
Hybrids now account for more than half of Thailand’s D-segment sedan market – which has now been reduced to only a two-car race, following the discontinuation of the Nissan Teana there. The Toyota Camry and Honda Accord are the only two volume sellers in the segment.
The Camry has a 64 percent market share, while the rest is from the Honda Accord.
According to data compiled by headlightmag, hybrids contribute nearly 53 percent of the Toyota Camry’s sales (52.9 percent), likewise for the Honda Accord (53.7 percent).
In Thailand, both models are available with two engine options – a 2.5-litre naturally aspirated and a 2.5-litre hybrid for the Toyota Camry; and 1.5-litre turbocharged and 2.0-litre hybrid for the Honda Accord.
Between January to July 2022, Toyota sold 3,562 units of the Camry while Honda sold 1,979 units. No doubt the shortage in semiconductor parts is curtailing sales.
Headlightmag’s data is not broken down by registration type but we understand that a large chunk of the Camry’s sales come from fleet operators – airport and hotel transfer cars, premium hire cars.
The cheaper, regular 2.5-litre naturally aspirated variant is the most popular variant for fleet buyers.
It is reasonable to say that if one were to look at only private car buyers, the Honda Accord, specifically the Honda Accord Hybrid, is the No.1 choice of Thai customers.
Closer to home, neither UMW Toyota Motor nor Honda Malaysia have plans to introduce hybrid variants of the Camry or Accord.
The Camry is imported (CBU) from Thailand, which attracts higher taxes so it’s priced at RM 209,800. A more expensive hybrid variant is a non-starter.
While the Honda Accord is locally-assembled (CKD) at Pegoh, Melaka, its RM 187,400 starting price is still prohibitively high and a more expensive hybrid variant has very limited market potential, as it would be priced too close to a BMW 3 Series, which is typically sold by dealers with very high discounts.