Report: Toyota issues ban on reselling new Land Cruisers overseas
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In 2021, the automotive industry is a bit weird. Covid-19 restrictions hampered the production side of things, and the semi conductor shortage has only made things worse, so getting vehicle stock is the main issue.
In a market where demand is high but supply is now, values increase exponentially, and one vehicle in particular that has benefitted from this is the all-new Toyota Land Cruiser.
In New Zealand, we've seen prices of second-hand examples that have tens of thousands of kilometres on them eclipse what they sold for new, and that was just for the last generation.
This demand is also reportedly affecting the new Land Cruiser, and Toyota has reportedly taken more than 20,000 pre-orders for the vehicle in its home country.
According to a recent report, Toyota Japan is making those who place orders for a Land Cruiser 300 sign a contract that prevents reselling the SUVs locally and internationally due to "global security" concerns.
“Customers have confirmed that this is not a purchase for ‘export’ or ‘resale’ purposes,” reads the document that's become mandatory for owners to sign. It sounds like the main purpose is to prevent exporters from making a quick buck.
Interestingly, the document supposedly doesn't contain a timeframe for owners to hold onto their Land Cruisers for. This is different to Ford's document with the GT, where buyers were given a date that the agreement would expire.
While these "security concerns" haven't been revealed, some have surmised that it is to prevent the sale of these LC300s into the Middle East, where they could potentially be on-sold to extremist groups.
As a brand, Toyota has a “strict policy to not sell vehicles to potential purchasers who may use or modify them for paramilitary or terrorist activities”.