Toyota debuts all new Camry

The Camry has dominated the family sedan market for much of the last dozen years and Tuesday Toyota debuted its newest model.

The 2012 Camry is the seventh generation or version of the Camry. The unveiling was simulcast in Hollywood, California; Georgetown, Kentucky and Dearborn.

Camry has been on sale in America for 28 years and more than nine million have been sold. But the new Camry faces much stronger competition in the mid- size market now.

Entries like the Ford Fusion and Chevrolet Malibu have made inroads in the valuable market.

"We believe there is significant pent up demand for the new vehicle," said Toyota's Jim Colon.

Every version of the new Camry except the base model will be several hundred dollars cheaper than the model it replaces.

"This vehicle is crucial for them. They have got to get this right," said John McElroy of Autoline Detroit. "The market is much more competitive now:"

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