With orders paused for almost two years and a lengthy waiting list, the V8-powered Toyota LandCruiser 70 Series was already hot property.
Now, Toyota Australia has confirmed it won’t be reopening orders for 70 Series models equipped with the 4.5-litre turbo-diesel, and it expects the value of V8 models to surge even higher – but it has warned dealers not to let anybody skip the queue.
“We will be speaking to our dealers and we will be putting very strong processes in place to ensure that those that have got orders get prioritised,” said Sean Hanley, Toyota Australia’s vice president for sales, marketing and franchise operations, acknowledging he has heard of dealers going against usual processes with the sought-after vehicle.
“Obviously the value of these cars is going to go up incredibly overnight, we’re acutely aware of behaviours that could be brought on because of this and we are going to put in very strong processes to try to negate those behaviours.
“My advice to anyone waiting: do not pay over retail.”
Of course, there is one potential way to reduce your wait: buy a used 70 Series.
Mr Hanley said there’s not much he can do about 70 Series buyers who choose to resell their vehicles for a profit.
“What they choose to do with those cars is their business beyond that,” he said.
“Used cars are used cars, I can’t control that but I do not want people thinking they need to run out and pay over retail. Do not do it.”
With vehicles in hot demand in the industry, there’s not only the risk of dealers allowing impatient buyers to pay more to skip the queue, but also said dealers attempting to charge all prospective buyers a substantial markup.
Toyota Australia has previously investigated reports of dealer-level markups for sought-after vehicles like the LandCruiser 300 Series, saying any dealers found exploiting demand and overcharging for near-new used vehicles would fall foul of its “internal standards”.
Mr Hanley also said in 2022 the company had “very strong governance around dealer delivery fees”, but also said the primary issue is with resellers short-cycling and scalping.
Production of V8-powered 70 Series models will end in September 2024, except for 79 Series GXL single- and double-cab utes.
Final deliveries of V8-powered wagons, Troop Carriers, and Workmate and GX utes will reach customers by the end of the year.
Production of GXL utes will continue “well into next year”, with customer deliveries to be completed during the fourth quarter of 2025.
“Out of respect for those customers who have already placed orders, and many of them have been waiting a long, long time, our single-minded focus is to get the maximum possible V8 allocation from the factory and deliver them to customers as quickly as possible,” said Mr Hanley.
While it’s axing the V8 locally, the four-cylinder 70 Series range will live on and also gain a five-speed manual option.
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