Toyota LandCruiser 70 V8 floods classifieds as speculators try to make a quick buck

Toyota Australia warned dealers of price spikes on final prices LandCruiser 70 Series V8but it said It cannot stop private resellers..

That has been proven true as a slew of ads for extremely low-mileage 70 Series V8s have appeared online in recent weeks as buyers look to flip their cars for a quick profit.

Officially, the V8 range starts at $80,900 before on-road costs for the single-chassis WorkMate, and goes up to $87,600 before on-road costs for the twin-chassis GXL.

Toyota announced on July 8 It will not reopen orders for V8 models.has been on hold for nearly two years.

An advert on Carsales shows an original double cab chassis GXL with a steel tray and under 250 miles on the clock.

“The price is fixed at $130,000, please do not bargain,” the owner said, claiming they bought the car to tow a boat but had moved it to the coast and no longer needed it.

Another in Melbourne, with a steel tray and gross vehicle mass (GVM) upgrade, is listed at $128,000 and has done just 22km.

The ad reads: “If you can’t afford the car, don’t ask.”

Another similar car in Brisbane costs $129,888 unregistered or $139,188 driven away.

While browsing Facebook Marketplace, we found a 2024 GXL scooter with 300km on the clock, listed two weeks ago in Brisbane for $110,000.

A Melbourne double-cab GXL, also with 300km on the clock, was listed at $110,000 three weeks ago.

Another GXL scooter in Melbourne with 300km on the clock is for sale for $122,000 and the seller has used photos taken at the Toyota dealership where the car is believed to have been purchased.

This ad has been posted for seven weeks.

Even unmodified models are listed at high prices.

We found a 2022 in Sydney with just 349km on the clock, listed four weeks ago for $109,000.

Not only is the interior clean, but the driver’s seat is still covered in foam.

Toyota Australia recently killed off its Series 70 models with the 4.5-litre turbo-diesel V8 after 17 years of local sales due to “changing regulations and community expectations”, leaving only the recently launched four-cylinder turbo-diesel.

Production of V8-powered 70 Series models will end in September 2024, with the exception of the 79 Series GXL single-cab and double-cab pickup trucks.

Toyota says the final deliveries of the V8-powered wagon, Troop Carrier, Workmate and GX pickups will be made later this year.

Production of the GXL pickup will continue “well into next year,” with customer deliveries expected to be completed in the fourth quarter of 2025.

Toyota says it will process the oldest orders first, which means impatient buyers or those who missed out on placing an order will have to consider buying a used one, although judging by the prices on these ads, they’ll almost certainly have to pay more for the privilege.

“We will be talking to our dealers and will have very strict processes in place to ensure that those dealers who have received orders will be prioritised,” Sean Hanley, Toyota Australia’s vice president of sales, marketing and franchise operations, told Australian media earlier this month.

He admitted to hearing of dealers going against normal procedure for this sought-after car.

“Obviously the value of these cars will increase dramatically overnight, we are very aware of the behaviour that can occur as a result of this and we will put in place very robust processes to try to counteract that behaviour.

Mr Hanley said there was little he could do about Series 70 buyers who chose to resell their cars for a profit.

“What they choose to do with those cars is their own business,” he said.

“A used car is a used car, I can’t control that but I don’t want people to think they need to go out and pay more than retail price. Don’t do that.”

THAN: Everything about Toyota LandCruiser 70 Series