The new Toyota Land Cruiser 300 is very successful. Huge queues have already lined up for the car because the Toyota plant cannot cope with the demand. Not only that, slightly used SUVs are now much more expensive than new ones. This is reported by Nikkei Asia.
In Japan, the average price of a used Toyota Land Cruiser 300 in the ZX version is 17 million yen ($129,000). A new SUV in the same version is more than half the price.
However, it’s not so easy to buy a new Toyota Land Cruiser 300. The queue for some versions of SUVs has already reached four years. It got to the point, that they stopped accepting orders for the model until the plant can cope with the already received orders.
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Scarcity has been taken advantage of by speculators, who have raised prices for the model at resale. Many buyers are ready to overpay to avoid waiting for years.
This is not the first similar case – used Toyota Alphard and Corolla Cross, as well as Ford Maverick, are sold more expensive than new ones. However, the difference in price is not so striking and is from 10 to 60%.