Can Competition Commission get involved?

[Mike Nel]

Looking at the Toyota website (for shits and giggles), specifically at the 300 Cruiser. Toyota dealers list the 300 GR-S at R1.850mil.

I see an add on Manny’s favorite social platform (Facebook), same vehicle for R2.350mil. That’s a whopping R500K more than the dealer.

All this is possible because of supply issues.

Now. Toyota aren’t the only ones I'm sure. I just don’t bother to check because it Toyota or nothing for me.

Surely the Competition Commission should have something to say about this?

[Wave]

Willing buyer willing seller.... and the banks will make the buyer put down a hefty deposit as the vehicle is over priced...

[Mad Manny]

I have seen these adverts of which you speak.
New LC 300's where they are asking R200k to R600k over the list price.

But these were all by resellers - not by a Toyota dealership.

So these guys (used car dealers mainly) place tons of orders, buy whatever they get & then try sell them with a massive markup.
I assume they try unload them before registering them so you are the 1st owner.
But even so, they are used, but nearly new.

Nothing the competition commission can do.

Guys are selling Real Defenders for double what they sold for new.
As Wave says - supply & demand.

In Japan Toyota doesn't allow you to sell your LC300 within the first year to prevent this speculation.
Not sure how they do this from a legal standpoint.

As for Toyota - a sale is a sale - I doubt they care....

[Mad Manny]

When the Porsche Boxster came out, a mate of a mate ordered one.
Six months later he was told his will be on the next shipment & he must prepare to pay & take delivery.

A few days later the salesman called to say he has a customer who is way down the list and he is willing to buy this mate of a mates spot,
The salesman asked if he could give the mate of a mate's details to this customer.
He agreed, the guy called & offered him a wake of cash to take delivery of his order.
I'm not 100% sure, but it may have been around R40k.
Anyway, he took the offer, the guy paid a week later, on the same day the Boxster arrived.

The mate of a mate put his name on the list again. He finally got his (2nd one) a year later, but there was a mild upgrade & the price had increased.
He still scored though.

[Mad Manny]

If you have the means, order a few Grenadiers - I reckon the same thing will happen there...

[Ricof4e]

I have seen these adverts of which you speak.
New LC 300's where they are asking R200k to R600k over the list price.

But these were all by resellers - not by a Toyota dealership.

So these guys (used car dealers mainly) place tons of orders, buy whatever they get & then try sell them with a massive markup.
I assume they try unload them before registering them so you are the 1st owner.
But even so, they are used, but nearly new.

Nothing the competition commission can do.

Guys are selling Real Defenders for double what they sold for new.
As Wave says - supply & demand.

In Japan Toyota doesn't allow you to sell your LC300 within the first year to prevent this speculation.
Not sure how they do this from a legal standpoint.

As for Toyota - a sale is a sale - I doubt they care....

They record a pre-emptive right in the sale contract.

[BushWacker]

The problem is that once you're up there, in elevated price ranges up above R1m etc, the ‘Law of Diminishing Returns’ is overwhelming.
… not the sort of Financial Terrain where I travel.

Eminently better logic to buy an old 79 Series and contract some Mechanical Genius’ to completely refurb that ( last? ) proven model.
Would only cost a few hundred thousand extra over the ‘79s purchase cost, compared with Toyota's latest ambitiously expensive experiment.

[Mad Manny]

I agree Chas, why buy a new or nearly new Land Cruiser (Prado, 200 or 300) for over R1 bar, when you could buy an older 79 (V6 or V8) Cruiser, have it fully restored & modified for R200 000 less...

You can see you were in the Rocks & Stones industry & not financial services during your illustrious career...

[LesseW]

Chas, do you know why they brought the 5 seater 79 cruiser out many years ago?

So that 5 people can feel how sh!t it drives….


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[Prof]

Fortunately I do do not float around in that price class