Why are used Toyotas double the price of new ones?

Why are used Toyotas double the price of new ones?
Why are used Toyotas double the price of new ones?

The state of global car production has led to some paradoxical phenomena.

2022 is a year where the automotive industry is going through one of the biggest crises in its history. The significant shortages in key components and also the war in Ukraine with all the consequences on energy sufficiency, have brought significant disruption to the production of all companies.

As the new models are not enough to meet the demand, the interest of consumers who want a car immediately has fallen to used cars. Which automatically shoots their prices to unprecedented heights.

His example Toyota Land Cruiser is perhaps the most characteristic. The company’s large four-wheel drive, in its latest generation it has come to cost more than double the money compared to a new one!

The price of a used new one Land Cruiser has reached 129,000 euros in Japan, when a new corresponding model is at 56,000 euros.

A similar image prevails with other models of the company, such as the Corolla Cross or the Japanese-only Harrier.

All this results from the suffocating situation that prevails in the company’s production, with the backlog having exceeded 1 million cars. A figure corresponding to a third of the annual production in Japan.

Yes, the waiting list for the Land Cruiser, as we have written before, reaches a full 4 years, while for most of the company’s models, one waiting time is a given.

However, it is not only internal demand that is putting pressure on it Toyota. Many models, exclusive to the Japanese market, they are also becoming popular abroad, as a result of which their prices have skyrocketed, as customers pay as much to buy, be it new or used.

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The article is in Greek

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