Nissan Motor Thailand remains upbeat on its large sedan Teana, although the model has gained limited sales volume and does not offer a hybrid option.
The large sedan has an engine of 2-2.5 litres and is priced 1.3-1.8 million baht. In Thailand there are three brands that market locally-made large sedans: the Toyota Camry, Honda Accord and Nissan Teana.
The large sedan market in the past three years has dropped significantly because the overall car market sentiment remains hazy, based on the economy.
Motorists have many alternatives, such as sport-utility vehicles and eco-cars.
Ratthakarn Jutasen, vice-president for sales, said Nissan has witnessed shrinking in the large sedan market in Thailand, but is still optimistic refreshed models can stimulate demand.
Nissan captured a segment share of 10.6% in 2015, dropping to 8% in 2016 and 4.9% in 2017.
"Last year, the market had sales of 800 units per month, but we have seen the sedan market drop to 500 cars sold per month," said Mr Ratthakarn.
Yesterday Nissan launched the new Teana, its first update to the model since November 2013.
The new Teana comes after Toyota launched the eighth generation of the Camry on Monday, priced 1.445-1.799 million baht. The Camry has a hybrid option.
Mr Ratthakarn said the large sedan market is becoming more competitive and Nissan projects overall sales to reach 1,000 units per month.
President Antoine Barthes said the Teana can compete in the Thai market even without a hybrid version, unlike the two other major brands.
"The Teana has two engine sizes -- two and 2.5 litres -- making a strong portfolio for Nissan," Mr Barthes said.
On July 25, Nissan was granted privileges by the Board of Investment (BoI) to make hybrid electric vehicles (EVs) and batteries at the Japanese carmaker's plant in Samut Prakan, an investment worth 10.96 billion baht.
Nissan will make hybrid EVs based on its e-Power eco-friendly technology and plans to use domestic raw materials worth 15.9 billion baht annually.
Mr Barthes said e-Power will not be installed in the new Teana as Nissan has yet to implement the BoI's grant.
He said Nissan remains committed to the local launch of the Leaf EV by next March in Asia and Oceania.
"The Leaf has already launched in South Korea, but Nissan is not hesitating to commit to Southeast Asia," said Mr Barthes.
