An overmolded thermoplastic article includes a substrate portion molded from a thermoplastic resin compound and an overmold portion molded from a thermoplastic elastomer compound. The thermoplastic resin compound includes thermoplastic polymer resin. The thermoplastic elastomer compound includes thermoplastic elastomer and polysiloxane as a mold release agent, and is free of wax. The overmold portion is bonded onto the substrate portion with a peel strength at least comparable to that of an overmolded thermoplastic elastomer compound containing wax as a mold release agent instead of the polysiloxane. Undesirable effects observed with the use of wax as a mold release agent in overmolded thermoplastic elastomer compounds such as blooming and ease of scratching/marring can be reduced, while desirable properties such as silky feel of the surface of the overmold portion and good bonding of the overmold portion onto the substrate portion can be at least maintained.