Today will cut the price on its updated 2012 Camry sedan by as much as $2,000, depending on the specific model – a move that reflects the increasingly competitive nature of the U.S. midsize car market, the maker acknowledged during the official launch of the new model.
That doesn’t reflect the recent run-up in Toyota’s rebates and other incentives. The maker has increased givebacks, in recent months, as it has struggled to reverse declining sales.
Few cars are as important as Camry to Toyota, the sedan topping the passenger car sales charts for the last nine years, and 13 of the last 14 years, but in recent months, demand for the Camry has been slumping, and Toyota doesn’t want to risk momentum as it begins one of its most important new product launches in years.
“We expect Camry will continue to earn its position as America’s number-one selling passenger car,” said Toyota brand boss Bob Carter, speaking from Los Angeles at an event simulcast to media gathered in a number of cities around the country.