Toyota Cuts Camry Hybrid's Price as Tax Credit Falls

The 2008 version of the midsize sedan goes on sale this month for $25,200, 3.8 percent less than the 2007 model.

Published: 27-Jul-2007

Toyota Motor Corp., the world's largest seller of gasoline-electric autos, is lowering the base price of the Camry Hybrid sedan by $1,000 as U.S. tax incentives are phased out.

The 2008 version of the midsize sedan goes on sale this month for $25,200, 3.8 percent less than the 2007 model, Toyota said today in a statement. Prices for gasoline-only conventional Camrys will increase $100, Toyota said.

``They're paying for that Camry Hybrid price cut with the increase on conventional Camrys,' said George Peterson, president of AutoPacific Inc., an industry research company in Tustin, California. ``What they're doing is basically revenue- neutral.'

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