Toyota cuts base price of Camry

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DETROIT, Aug. 23 (UPI) -- Toyota, losing market share because of its recent recalls, has announced base prices for most 2012 Camrys below those of 2011 model year prices.

While the Camry remains the top-selling car in the United States, it captured only 14.3 percent of the market for midsize cars in the first half of 2011, the Detroit Free Press reported. In 2009, one in five, or 20.1 percent, of midsize cars sold were Camrys -- and that fell to 17.2 percent last year.

President Akio Toyoda drove the first new 2012 Camry off the line at the company's assembly plant in Georgetown, Ky., when the company unveiled the new models. There were also presentations in Detroit, New York and Los Angeles.

"The launch of the new Camry is very important to our company," Toyoda said. "This car has become a symbol of Toyota's success over the years."

Base prices for the Camry LE and SE -- expected to be the best-sellers in the line -- have been cut by $200 and $965 from 2010 levels. The base prices go from $22,715 for the Camry L to $26,660 for the hybrid, including delivery.

Most of the 2012 models go on sale Oct. 3, with the hybrid on sale in November.