Toyota revamps Camry sedan
Toyota which sells about four of every 10 vehicles in Japan, will introduce a redesigned Camry sedan to compete with Nissan, Honda.india Updated: Jan 30, 2006 12:11 IST
Toyota Motor Corp, which sells about four of every 10 vehicles in Japan, will introduce a redesigned Camry sedanonMondayto replace its aging model, which lags Nissan Motor Co's Teana and Honda Motor Co's Accord.
The Camry will cost between 2.48 million yen and 3.36 million yen ($29,000), in the same price range as the Teana and Accord. Toyota aims to sell 1,000 units of the model every month, it said.
Toyota has released the redesigned Estima van and new Rush sport-utility vehicle so far this year as it aims to increase its domestic market share to 45 per cent.
The last Camry model is five years old. Japan has one of the world's shortest product cycles and carmakers typically offer new designs every two years on average.
"Demand for mid-sized sedans is decreasing," said Toyota President Katsuaki Watanabe in Tokyo. "But we think good models will still sell."
Toyota may sell as many as 650,000 Camrys worldwide in 2006, including both the old and new models, Watanabe said. The Camry is one of Toyota's top selling models. It sold 593,000 units globally in 2005, down 2.3 per cent from a year ago.
The company may also build the model in the US At a factory belonging to its affiliate Fuji Heavy Industries Ltd. The two companies are discussing which models to build at the Lafayette, Indiana plant.