Can Toyota’s Camry Stay on Top Amid Competition?
Foreign auto companies are now facing serious competition from their domestic rivals in small cars — an arena foreign companies have historically dominated. Toyota (NYSE:TM) is scrambling to keep its Camry in the lead as the top-selling car in America, a position that vehicle has occupied for 12 years.
According to a report from Auto News, the Camry was outsold by Honda’s (NYSE:HMC) Accord in April and Nissan’s (NSANY.PK) Altima in March. Toyota seems reluctant to offer incentives on the vehicles, but the company may have to cave to the pressure if it wants to keep the top spot.
“For incentives, we don’t think that our current level is necessarily high, but traditionally, we try not to be too dependent on them,” Nobuyori Kodaira, Toyota’s executive vice president, said Thursday in a briefing in Tokyo cited by Auto News. “I can’t really comment on our future plans, but our plan for now is to stick to that as much as possible.”