Toyota Issues Statement About 2022 Land Cruiser Resale Restrictions

Following last week’s reports from Japan about 2022 Land Cruiser owners not being allowed to resell the vehicle due to security concerns, Toyota has issued a formal statement in a response to an inquiry made by Mag-X. The local magazine says preorders for the fullsize SUV have been temporarily suspended and new owners have to sign a pledge not to sell the body-on-frame vehicle to export markets.

Here’s what the automaker has to say:

“Toyota dealers and Toyota Motor Corporation share a common understanding that when selling vehicles to customers in Japan, the sale does not end, but that each dealership will continue a responsible relationship with the customer, including after-sales service, in order to protect the safety and security of the customer.”

“In addition, the Land Cruiser is particularly popular overseas, and we are concerned about the flow of vehicles from Japan to overseas immediately after their release, as well as the possibility of them being exported to certain regions where security regulations are in place.”

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“We are also aware that if the situation were to develop to the point where a Toyota dealership was to be investigated on suspicion of involvement in a violation of the Foreign Exchange and Foreign Trade Law (Foreign Exchange Law), it would be a major problem not only for the Toyota dealership in question but also for all Toyota dealers and Toyota Motor Corporation.”

“As a manufacturer that supplies vehicles, Toyota Motor Corporation, from the standpoint of compliance with laws and regulations, has alerted all Toyota dealers nationwide to the possibility of the above violation of the Foreign Exchange and Foreign Trade Law in order to minimize the risk of legal violations.”

“With this as a reference, we recognize that each dealer has made a decision from the perspective of legal compliance and has received a written pledge from the customer. These measures were taken based on the recent global situation and the characteristics of the Land Cruiser, and we believe that they do not violate the Anti-Monopoly Law.”

“Toyota Motor Corporation will continue to deliver good products through its dealers and distributors around the world while complying with the laws and regulations of each country, and we ask for your understanding in this matter.”

In its domestic market, the LC300 has racked up more than 22,000 preorders since the beginning of the month when Toyota opened the order books. It will go on sale on August 2 from 5.1 million yen (about $46,500 at current exchange rates) or 300,000 yen ($2,700) more than the model it replaces. A large portion of the preorders was presumed to be for resale, and if that situation is verified, the preorder is canceled.

In related news, Toyota will halt production of the new Land Cruiser on August 5 and 6 due to a parts shortage caused by the spread of coronavirus in southeast Asia. During those two days, production of the old Land Cruiser 70 series – originally launched in 1984 – will also be paused, and the same goes for the posh Lexus LX.

Source: https://www.motor1.com/news/522916/toyota-statement-land-cruiser-sales-ban/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-industry