Toyota LandCruiser 70 Series order book to stay closed for another 12 months

The ongoing semi-conductor crisis, COVID and Australia’s booming mining and agriculture industries has seen local demand for the Toyota LandCruiser 70 Series significantly outstrip supply, triggering the Japanese car-maker to stop taking orders for at least another 12 months.

According to Sean Hanley, Toyota Motor Company Australia (TMCA) sales and marketing boss, demand for the trusty LC70 workhorse from established customers was already strong before the substantial upgrade was announced earlier this year, further driving interest among private enthusiast buyers.

So much so that the wait list stretched into 2024 as of June, forcing Toyota to temporarily close its LC70 order book in late July.

Prices for the upgraded 2023 LandCruiser 70 Series are yet to be announced but are expected to increase, and just last month we reported that Toyota would not price-protect LC70 pre-orders received after May 16 due to concerns over currency fluctuations many months in the future.

Now, according to Hanley, the 70 Series order book will remain shut for at least the next 12 months.

“Everything that suits LandCruiser 70 is booming,” Hanley told Australian journalists at the recent Toyota GR Corolla launch in the US.

“Clearly, if things alter or improve and we can get more cars an we can reduce that [wait time], of course we will. But at this stage I don't see anything within 12 months.”

Hanley said that Toyota will continue to struggle with more demand than supply for the foreseeable future and apologised to customers waiting for their vehicle.

“I speak with customers, dealers and regional offices and I understand their frustration. I want them to know we're doing everything possible to try to expedite the car.

“In my heart I know we're doing everything possible and I know we're communicating the latest information we've got. Unfortunately, the latest information can alter in a month's time,” said the Toyota sales boss.

Hanley said that any buyers who want to cancel their order can do so at any time without any penalty or discussion. Despite this, the Toyota sales director said there have been few cancellations.

He said that Toyota was not stockpiling engines for what will remain one of the car-maker’s final V8-powered models, and that the stop-sale order was entirely due to overwhelming demand amid 70 Series production constraints.

More broadly, despite the rapid increase in living costs, Hanley said he believes the Australian new-vehicle market is on track to top 1,080,000 annual sales in 2022. But he also noted that the current supply chain crisis could be inflating the current level of demand.

“Where it's getting interesting for us is long waiting times are becoming more understood. I won't say 'normal, because it's not normal, but it's becoming more understood.”

According to Hanley some customers are ordering vehicles now but not wanting delivery for another 12 months – a new pattern of buyer behaviour that’s distorting sales volumes.

“Is what we're getting now true 2022 demand or is it 2023 or even 2024? This is the unknown,” he said.

According to Hanley, Toyota Australia currently has a “very healthy” order bank that will sustain the nation’s number one auto brand for the next few years, regardless.