Old-school Toyota LandCruiser utes are being advertised on car classifieds sites for as much as $200,000 as waitlists for the four-wheel-drive stretch past two years at some dealerships.
Toyota stopped taking orders for the rugged LandCruiser 70 Series in July last year, after supply constraints led to a blow-out in delivery times.
Owners are asking top dollar for the ute, despite the fact that its old-world engineering and design dates back to the 1980s.
In demand 70-year anniversary editions are being advertised for between $120,000 and $199,000.
Toyota only made 600 examples of the 70th anniversary model, which was priced from just $80,500 plus on-roads for the single cab version when it was released in 2021.
But dealers got around the recommended retail price by immediately registering the vehicles and selling them as low-km demonstrators for as much as $115,000.
Legally, there’s nothing Toyota can do to stop the practice.
Sydney businessman Jamie Drivas, who’s PVS Automotive business modifies LandCruisers, bought a 70th anniversary version in 2021 and has kept it in bubble wrap ever since.
“It was a very limited edition worldwide. It was just something that we decided to buy and showcase in our showroom. We thought that just being so unique and rare, why not protect it,” he said.
It has just 12km on the clock and Drivas is asking $139,000 for it.
“I think the dealerships were selling them for over the $120,000 mark. I wish I paid $80,000 for it, I’d be making a lot more money,” he said.
He had it advertised for as much as $200,000 at the end of last year and had offers of more than $150,000 but recent interest rate hikes burst the bubble, so to speak.
“Interest rates have gone up by so much that people can’t get loans anymore. And that’s reflected in the price. I think people are struggling to sell cars even at $100,000,” he said.
He said he’d had offers of $125,000 from brokers but knocked them back as he wasn’t in a hurry to sell it.
There is a chance that prices will spike again if, as expected, Toyota confirms it is discontinuing the V8 diesel in the 70 Series.
When the maker replaced the V8 diesel in its 200 Series LandCruiser with the more modern twin-turbo diesel V6 in the 300 Series in 2021, prices spiked as traditionalists looked to secure a slice of history.
“If they stop that V8, then these will go up. When they brought out the twin-turbo 300, the 200 Series LandCruisers went up,” he said.
Originally published as Bubble wrapped Toyota LandCruiser to sell for huge price
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