The Japanese giant Toyota has announced that they are no longer accepting orders for the two large SUV models, namely the Land Cruiser 300 and Lexus LX. A message appeared on the company’s official website that “the number of orders received significantly exceeds production capacity.” It is not yet clear how long the sales restriction will last, writes Yahoo Finance.
The waiting time for some trim levels of the Land Cruiser 300 has approached as much as 5 years.
Toyota has overtaken Volkswagen with more than 1 million cars sold worldwide
The automaker set a production record this month
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Despite the huge demand, Toyota did not raise the prices for the Land Cruiser 300. In Japan, a new SUV costs between 37,500 and 59,000 euros. At the same time, however, on the used car market, the new Land Cruiser 300 is sold for 132,200 euros. The reason is the lack of available units at the dealers. The Japanese company is trying to fight speculators by making its customers sign a ban on its resale for a certain period of time.
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The LX model appeared on the market later, but the premium brand also experienced serious production difficulties. The reason is the global shortage of chips.
At the beginning of June, it became known that Toyota may begin production of a pickup truck that will be a step down from the HiLux model. The success of the Ford Maverick and Hyundai Santa Cruz has pushed the Japanese to launch a similar compact model on the market, say automotive experts.
The success of the new Ford model made the Japanese urgently think about creating their own version of a compact pickup truck. At the beginning of this year, Ford was forced to stop accepting orders for the Maverick due to too much demand (even before the start of sales in 2021, Ford accepted more than 100 thousand orders for this model).
At one time, Toyota had a similar model in the segment of cheaper and relatively small pickups – we are talking about the Toyota Tacoma. However, a few years ago it was “reformatted” and entered the segment of medium pickups by American standards. And now Toyota is not able to offer anything interesting in the segment of cheap pickups, which apparently enjoy good demand.
For example, the Toyota Tacoma model now costs $27,150 in the US market. By comparison, the Ford Maverick is available for $19,995 and the Hyundai Santa Cruz will cost $24,440.
