Toyota's All New Camry is now on sale in Vientiane, giving motorists with an eye for luxury another option in the sedan market.
A Toyota Camry on show in Vientiane.
Toyota Motor Thailand Co Ltd on Wednesday officially unveiled the latest generation Camry sedan to Lao media and customers at Don Chan Palace in hopes of brisk sales. Purchasing power in Laos has risen significantly over the past five years thanks to robust economic growth.
Key features of the seventh generation of the Camry sedan are an evolution of the car's value through elegant design features, greater fuel efficiency at about 9 km per litre, and advanced technology. The sedan is likely to prove attractive to medium and high income earners such as company owners, senior government officials, and CEOs.
The All New Camry sedan is now available at two Toyota dealers - Lao Thani and Lao Toyota Service. The 2.5 litre car sells for about US$50,000 including taxes.
Toyota Motor Thailand Deputy General Manager Mr Chakrin Cholonateetorn said the latest Camry was developed in keeping with the New Era concept, aiming to elevate its standard as a luxury car in which occupants may take pride.
The car features an elegant exterior and enhanced driving performance. The new 2.5 litre engine offers 10 percent additional power and 24 percent higher fuel efficiency compared to the previous model, he said.
Mr Chakrin said Toyota Motor Thailand Co Ltd expects to sell 300 units of the All New Camry sedan in Laos this year. He also said the entry of the sedan into the Lao market would not affect sales of the Toyota Vigo Champ.
Last year, Toyota Motor Thailand supplied about 125 Camry sedans to Laos. It also supplies the Altis and Yaris sedans, but the sales volume of these models was not high as the Camry, he added.
He admitted that Toyota was facing increasing competition in the sedan market becuase Korea's Hyundai and Kia models are cheaper. However, he was optimistic that Toyota would be able to gain a larger market share through its new marketing strategy.
Mr Chakrin said Toyota would hold its first rally of Toyota sedans in Laos, as well as a concert and a number of charity activities, to help build customer relations. The company is running a promotion titled “Buy one Camry sedan to win another one”.
The company would also advertise its products on Lao TV and in the print media to create a good image of the Camry sedan, Mr Chakrin said, adding this would help to win over potential purchasers during times of growing competition.