Part 3/8:
Multiple factors are contributing to this decline. One significant issue is Toyota's price elevation strategy. The brand's recent push toward higher MSRP for trims and premium features has rendered many of its vehicles unaffordable for traditional buyers. Models that once epitomized value, such as the Corolla and Camry, are now perceived as overpriced compared to emerging competitors.
Additionally, limited affordable options within the Toyota lineup have pushed consumers towards rivals. The competition, particularly from brands like Honda, offers aggressive financing and discount packages, further intensifying the challenge for Toyota.