The P0700 code in your 2016 Toyota Camry indicates a general transmission control system malfunction, while the slipping symptom you're experiencing points to a more specific mechanical or hydraulic issue within the 6-speed automatic transmission. P0700 is an informational code telling you to check for more specific transmission fault codes.
Understanding Transmission Slipping
Transmission slipping occurs when the clutch packs or bands that hold gears in place lose their grip. You feel this as RPM rising without corresponding acceleration, or the engine seeming to "rev up" during gear changes. Your Camry's 6-speed automatic (U660E) uses multiple clutch packs that can wear over time.
Common Causes of Slipping
Low transmission fluid level is the simplest cause—check the level first. Degraded fluid loses its friction properties, affecting clutch engagement. Worn clutch packs in specific gears cause slipping in those ranges. A failing torque converter clutch causes slipping at highway speeds. Faulty shift solenoids affect specific gear engagement.
The 2016 Camry 6-Speed Automatic
The U660E transmission in your Camry is generally reliable but not immune to problems at higher mileages. Common issues include worn clutch packs (often 3rd gear), valve body wear affecting shift quality, and torque converter clutch problems. These issues typically develop gradually.
Diagnostic Approach
Using Toyota Techstream, scan the TCM for specific codes beyond P0700. Check transmission fluid level and condition—dark or burnt-smelling fluid indicates problems. Monitor line pressure during operation. Note which gears slip—this helps identify which clutch pack is affected. Review shift solenoid function.