Toyota Australia, the country’s leading seller of new motor vehicles, has recently announced a fresh wave of price increases that are set to impact thousands of customers already awaiting their vehicles.
This news comes as a blow to eager buyers, who have already endured extended wait times ranging from six months to a staggering two years for popular models like the HiAce van and HiLux ute.
From July 2023, Toyota dealers in Australia have been advised to prepare for price hikes across almost all models, with only three exceptions.
Some of the nation’s most sought-after Toyota cars, such as the RAV4 Hybrid and Camry Hybrid, will bear the brunt of the highest price increases. These models, despite the exorbitant wait times of up to two years, will see their prices rise by $1710 and $1830, respectively.
The unprecedented delays in vehicle deliveries can no longer be solely attributed to production and shipping challenges. Rather, the primary cause can be attributed to an overwhelming surge in demand for Toyota cars. This surge has taken Toyota by surprise and has resulted in an ongoing struggle to keep up with the overwhelming consumer interest.
To mitigate the impact of delays that extend across model-year updates, Toyota began providing customers with a separate document at the time of purchase, alerting them to the possibility of price and equipment changes before the vehicle‘s arrival.
In light of this, customers reserve the right to receive a refund of their deposit at any point during the ordering process, up until the vehicle is registered in their name, should they disagree with the revised price or equipment.
Unfortunately, the majority of customers who have already joined the queue will be subjected to the latest round of price increases, unless their vehicle was manufactured prior to September 2022 (for the Kluger) or November 2022 (for all other models).
Given that most vehicles meeting these criteria have already been delivered, it is expected that the majority of customers who take delivery of their new Toyota after July 1, 2023, will be affected by the latest price hikes.
Toyota Australia has acknowledged that the impending price rises may not be well-received by customers. However, the company assures that careful consideration of various factors preceded this decision.
The prices “may be unwelcome … please understand we have carefully considered all factors before making such a decision”, according to the manufacturer.
Nonetheless, there are a few exceptions to these price increases, namely certain Toyota models subject to the Luxury Car Tax.
As the minimum price threshold for the Luxury Car Tax, a government-mandated additional 33 per cent charge on top of the Goods and Services Tax (GST), gradually increases based on the Consumer Price Index (CPI), the recommended retail prices of specific models have actually decreased.
Readers are encouraged to verify the latest information with their local Toyota dealer.
– Toyota Camry: up $1830
– Toyota Corolla Cross: up $980
– Toyota Corolla hatch: up $980
– Toyota Corolla sedan: up $640
– Toyota GR Corolla: up $1890
– Toyota GR Yaris: up $1890
– Toyota RAV4: up $1710
– Toyota Supra: up $380
– Toyota Yaris Cross: up $160
– Toyota Yaris hatch: up $160
– Toyota Granvia (standard model): up $690
– Toyota Granvia VX: down $840
– Toyota HiAce bus: up $1110
– Toyota HiAce van: up $760
– Toyota Kluger GX, GXL petrol: up $670
– Toyota Kluger 2WD Grande petrol: up $247
– Toyota Kluger AWD Grande petrol: down $470
Originally published as Toyota prices rise for the second time in six months
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