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Just last year, Toyota officially introduced a major change to the Camry lineup. The standard internal combustion engine was canned in favor of a 2.5-liter hybrid powertrain. In doing so, Toyota shifted the Camry's identity towards hybrid efficiency, leaving most of its previous performance-oriented aspirations in the dust.
However, a quiet casualty of the hybrid shift was a powerful one. It was the 301-horsepower, 3.5-liter V6 offered in higher-trimmed Camrys up until 2024. It was the last of its kind: the V6-powered family sedan. Because of its final-edition status, 3.5-liter V6-equipped Camrys are holding steadfast to their values, challenging the preconceived notion of standard sedan depreciation in the US. It seems the V6-powered Camry is on the fast track to modern classic status.
The End Of An Era
In 2018, the eighth-gen Camry hit the market as a longer, wider, and lower family sedan with a slew of new technology, as well as a more aggressive, modern look. That same year, the model began to offer the powerful V6 in the XSE and XLE grades, both of which occupied the top of the trim lineup. The XSE was the sportier flavor, whereas the XLE was, in essence, the most luxurious iteration of the Camry on the market.
The engine itself, carrying the engine code "2GR-FKS", is an impressive unit. It does not rely on any forced induction, instead utilizing Toyota's D4-S injection, which combines both port and direct fuel injection. It also makes use of a timing chain, rather than a belt. Four valves per cylinder, hooked up to a dual-overhead-camshaft valvetrain, also help it produce an impressive 301 horsepower, accompanied by 267 pound-feet of torque. This was enough to rocket the 2018 Toyota Camry XSE from 0-60 mph in just under six seconds.
These days, the Camry isn't as peppy as it used to be. The most powerful iteration of the model produces just 232 hp when coupled with all-wheel drive. Front-drive models have to make do with just 225 hp. Of course, fuel efficiency has improved drastically, with current AWD examples earning a 50-mpg combined rating. The axed V6 models struggled to achieve just 26 mpg combined. However, fuel efficiency isn't what the 2GR-FKS was about.
The Camry TRD
The engine's performance prowess was further cemented in 2020, when Toyota introduced the Camry TRD. It was a fully-fledged performance trim, boasting upgrades to its suspension, brakes, and even a more aggressive body kit complete with a subtle trunk spoiler. Engine power did not increase, but with 301 horses at its disposal, it really didn't have to. The Camry TRD and its V6-equipped sibling grades produced more power than most of their rivals, such as the Honda Accord Sport 2.0T (252 hp) and the Nissan Altima SR 3.5 (270 hp), although the latter was discontinued following the 2018 model year.
Both the Camry XSE and TRD especially became sports sedan enthusiast favorites. They looked the part and had the performance to back it up. However, at the time, buyers didn't know they were buying the last of its kind until after the fact.
The Used Market Doesn't Consider It A Normal Camry
When we take a look at the used Toyota Camry market as a whole, most models lose roughly 30 percent of their value over the first three years on the road, and 37 percent after five years. Across the segment, rates such as those are impressive in their own right. V6-equipped eighth-gens, though, are particularly adept at clinging to their values. For example, a 2021 Toyota Camry XSE V6 carries an average used market price of about $28,192 at present, and its original MSRP sat right at $35,620. Do the math, and you end up with just 21 percent of its value having been lost over the course of five years, compared to the average 37 percent mentioned above for all Camrys.
While Toyota did not explicitly limit the number of XSE V6 and XLE V6 models it made, they made up just six percent of overall Camry sales from 2018 to 2024, making them considerably rarer than the standard, four-cylinder-equipped models. This creates rarity in the market, further increasing its ability to hold onto value. However, the Camry TRD was limited in its production, with Toyota only building about 6,000 per year between 2020 and 2024.
Adding to the value-retention soup is the V6 Camry's now-discontinued powertrain. At present, there are no more V6-powered, mass-market sedans on the market. The only ones still pumping models out with V6 engines are luxury brands, such as Genesis. Being the last of its kind creates a vacuum in the market, inspiring more buyers to opt for some form of V6-equipped Camry, simply because the V6 family sedan does not seem to be coming back any time soon.
Bearing all of this in mind, a unique trend is beginning to come to light. Sometimes, discontinued models end up suffering from accelerated depreciation, simply because they signal a reduction in marketwide interest, as well as the respective automaker's decision to abandon whatever fans the particular model had left. However, in the eighth-gen V6 Camry's case, its discontinuation has ended up creating the perfect storm for it to hold onto its value better than virtually every other mass-market sedan currently on the used market, including its four-cylinder siblings.
The Engine Itself Helps Its Value Retention In Multiple Ways
The 2GR-FKS engine is more than just a reliable, powerful engine. Over the last decade or so, it's been one of Toyota's favorite six-cylinders to use. It has been found in numerous Toyota and Lexus models, ranging from sedans to SUVs, such as the Lexus IS 350 and the Toyota Highlander. With such a strong portfolio, there are tons of 2GR-FKS engines out there on the roads, and that keeps things interesting when it comes to pricing.
When an engine is adopted by a wide swath of models, many of which belong to different segments, repairs and components themselves typically fetch lower premiums than other engines that may only have one or two models that use it. In the salvage market, a used 2GR-FKS usually runs anywhere from $1,500 to $3,000 for a complete, drop-in-ready unit. For a modern engine, that's an extremely low price.
Despite boasting a relatively low salvage value compared to many other modern engines, the engine itself is worth its weight in gold. This creates a unique situation where a cheap powerplant is actually the most desirable one, at least in the eighth-gen Camry's case. This helps to support the model's "value floor", or the basis from which the model's current used values stem. So, it is not just nostalgia driving the eighth-gen V6 Camry's value retention; it also has genuine mechanical demand backing it up, given how many models use the engine.
The Final V6 Camry Might Be On The Road To Modern Classic Status
As the automotive world moves further from traditional V6 and V8 powertrains toward more fuel-efficient, turbocharged four-cylinder engines, the used market has begun to warm considerably to lightly used models utilizing those types of engines. With the Camry XSE, XLE and TRD sporting a V6 engine, it falls into this category. With the return of the standard V6 family sedan unlikely in the foreseeable future, the six-cylinder Camry will likely hold onto its value for some time, and values may even increase, depending on market trends.
Both the Camry XSE V6 and TRD models slot right alongside other discontinued models that retained a surprising amount of value after their discontinuation, such as the 2017 Honda Accord, which could be equipped with a 278-hp, 3.5-liter V6. The Honda also offered a six-speed manual transmission, and models sporting both are still extremely sought-after.
As for the V6-powered Camry's future, we cannot say for certain that it is a sure-fire appreciation goldmine, but we can speculate that its last-of-its-kind nature will leave a lasting impression on the market. Not to mention, Toyotas tend to last a long time, so values will likely reflect that as the years roll by, too.
Sources: Toyota,603AutoSalvage.com,CarEdge.com,PedalCommander.com.
