Used Toyotas sold in Japan cost more than new

The used car market in Japan has seen such a steep price increase lately that used Toyotas are now being offered for more than the MSRP of new cars. The reason is trivial: supply shortage forcing customers to choose immediate mobility over pre-ordering and waiting months or years on end.

According to Nikkei, the used 2022 Toyota Land Cruiser ZX cost 17,050,000 Japanese Yen in the beginning of this summer, nearly twice the price of a factory-new car.

The same situation is with the part-electric Toyota Alphard van, which now costs around 8,250,000 JPY for a used 2021MY example. Buying it new is cheaper at 7,750,000 JPY and above, but necessitates waiting. The same applies to the Corolla Cross and the Harrier.

Some versions of Toyota cars have backorder queues more than a year long, and have already amassed at least a million unfulfilled orders. For instance, the Land Cruiser 300 is on a four-year backorder, while most other SUVs are on a year-long waiting list.