From the 'Not Surprising' Files: There's Finally Cash on the Hood of New Toyota Camrys

Toyota resisted the urge for some time. However, the reality of falling sales numbers meant the automaker had to finally pull out its wallet and start incentivising the country’s best-selling midsize sedan.

We told you earlier this month that Camry sales aren’t enjoying the same buoyancy seen after the release of the new-for 2018 model in the latter part of last year. Possibly as a result, Toyota’s discounts, initially available only to Camry lessees, now migrate to buyers.

According to the deal seekers at CarsDirect, many buyers in the U.S. should find a rebate of $1,000 on both the Camry and Camry Hybrid, though discounts differ depending on market. The customer rebate applies to buyers in New York City, Boston, San Francisco, Chicago, Cincinnati, the mid-Atlantic region, Portland, and Southern California.

Elsewhere, dealer cash awaits. Buyers in the Southeast and Texas stand to gain dealer rebates of $1,250 and $1,500, respectively. Interestingly, CarsDirect notes climbing lease and financing rates at the same time Toyota’s making it cheaper to buy.

A peek at sales data shows U.S. Camry sales slipping since March, with July figures showing a 2.7 percent year-to-date loss. As midsize rivals continue their downward plunge, the Camry becomes the most recent member of the club, posting a volume loss of 22.2 percent last month. While it’s still well in the sales lead among its peers — and no doubt poached sales form many of them — the segment’s shrinking nature meant the Camry was sure to fall.

Still, Toyota knows it has the most respected nameplate in the segment. As such, the timing of the modest rebates might have more to do with clearing out 2018 models in anticipation of the 2019s than sales direction. We’ll have to wait and see if discounts become the norm.

[Image: Toyota]