GAC Toyota Camry's Price Drop in China Sales and Market Trends
TapTechNews July 3rd news, according to the report of 'Prism' under Tencent News today, a salesperson at a GAC Toyota 4S store in Beijing said at the beginning of this month, 'Now you can drive away a Camry with just over $18,000.'
The report even said that $18,000 is the terminal price of the 2024 ninth-generation Toyota Camry. Some salespeople said straightforwardly, 'The price is getting lower month by month. We have never sold at such a low price before. There's no way, if we don't reduce the price, it won't sell.'
The ninth-generation Camry was released in March this year, and the original starting price was $24,500 - in fact, this is also the historical lowest price of the Camry model. The previous generation (eighth generation) of this car was once the'most popular' product of GAC Toyota, and its sales exceeded 1 million units within 5 years.
The report pointed out that the sales of the ninth-generation Camry is far from meeting expectations, and the terminal price is much lower than the guide price and continues to decline. Taking the 2024 2.0E Elite version as an example, its guide price is $24,500, and the aforementioned store can offer a $6,900 discount, and the naked car price is only $17,600. If the replacement subsidy is superimposed, the price is expected to drop to the $16,000 range.
In terms of sales, from October last year to January this year, the monthly sales of the Camry in China were 30,734, 28,269, 32,371, and 23,501 units respectively; but after the ninth-generation Camry was launched, the sales of this model failed to break through the 10,000-unit mark for several consecutive months - 10,267 units in March, 13,985 units in April, and 12,402 units in May.
The report quoted an analysis by a person who has in-depth research on GAC Group, saying, 'Toyota has very strict financial management. Even if they reduce prices for promotional sales, they won't lose money to make a noise. The Camry can be reduced to about $18,000, so you can imagine how high their previous profits were.'
According to TapTechNews' previous report, in June this year, the Camry once reduced its price by $4,300 to $4,600, with the gasoline version selling for $20,300 and the dual-engine version selling for $21,300.
Related reading:
'GAC Toyota Camry Announces a Price Reduction of $4,300 to $4,600: The Current Price Starts from $20,300, and the Car Infotainment System is Developed in Cooperation with Huawei'