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Used Land Cruisers fetch over double new price amid Toyota shortage


Alfrescian (InfP) + Mod
Generous Asset

Used Land Cruisers fetch over double new price amid Toyota shortage
$129,000 resale price shows car buyers willing to pay more to skip waitlist


New orders for Land Cruisers have been suspended in Japan because production cannot keep up. (Photo by Yuki Nakao)
KYOHEI SUGA, Nikkei staff writerAugust 11, 2022 03:17 JST

NAGOYA, Japan -- Resale prices of some Toyota models have topped what new ones sell for as Japan's top automaker keeps car buyers waiting.

The median price of the 2022 Land Cruiser ZX reached 17.05 million yen ($129,000) in late July, more than double the manufacturer's suggested price for the gasoline version of the popular sport utility vehicle, according to used car website operator Proto Corp.

Price inversions like this for Toyotas, which reflect the automaker's struggle to produce cars on time amid a global chip shortage, are unusual in their extent, market watchers said.

"There have been instances of localized spikes in prices for rare and popular cars, but I've never seen it happen for this many models," said Yasuyuki Matsui, a director at Nagoya-based used car dealership group Goodspeed.

For the Alphard, one of Toyota's largest minivans, the median price for the hybrid 2021 Executive Lounge S version was 8.25 million yen, above the new-car price of 7.75 million yen.

Some Harrier and Corolla Cross cars cost more used than new, depending on the model year and grade.

Some car buyers are clearly willing to pay more to drive a slightly used Toyota now than wait for delivery of a new one.

Toyota Motor's order backlog in Japan stands at around 1 million vehicles -- roughly a third of its annual domestic output. Delivery time is estimated to be more than four years for the Land Cruiser and nearly a year for other popular SUVs. Besides the chip shortage, COVID-19 lockdowns in Shanghai this year have had a lingering impact on Toyota's supply chain.

Overseas car buyers are helping drive up prices in Japan, Matsui said. Used car dealers often auction cars to other dealers.

"Buyers exporting to wealthy customers in emerging economies pay high prices," one seller said.

Japan-only Toyota models like the Harrier are gaining popularity among such overseas buyers, who may face wait times to buy Toyotas in their local markets, auto industry watchers said.

The boom in used cars is not limited to Toyota. Some other brands, such as Suzuki Motor's popular four-wheel-drive Jimny, are fetching higher-than-new prices. But Toyotas have long been known for their stable resale price, so the shortage-driven increases stand out more.

New orders for Land Cruisers, Alphards and Harriers have been suspended in Japan because production cannot keep up, and there is no sign of when they will restart.

"The current models have for practical purposes been discontinued," said the head of one dealership.

Byebye Penis

was my dream car. Tried once on UAE's deserts.

now, even more cannot afford and beyond reach for me as I grow older.


was my dream car. Tried once on UAE's deserts.

now, even more cannot afford and beyond reach for me as I grow older.

buy the toy version then go to the playground sand pit lah....................same thing lah................no danger some more................ :biggrin:

syed putra

New landcruiser has a 3 year waiting list.
Its not just the landcruiser where used car appreciated in value. FJ cruiser too



Alfrescian (Inf)
if can’t buy land cruiser can try 2022 lexus lx 669 for at least usd 126.9k msrp full trim. may be usd 169k now due to demand and lack of supply. it’s essentially the same vehicle as the land cruiser sexcept for the badge and trim.


Alfrescian (Inf)
Then I know you are younger than me.

When you are soon to be wheel-chair bound, a car with higher platform is easier for you to get-in and get-out, don't need to bend or lift knee so much.

I like my car to be as low as possible so that I can park for free.