The all-new 2022 Toyota Land Cruiser 300 is indeed a very popular vehicle, and this has always been the case as well here in the Philippine market. So much so that according to a report by a local Japanese automotive website called BestCarWeb, pre-orders are 400 percent higher than actual production.
Exacerbating the shortage in Land Cruisers is the ongoing semiconductor shortage, which has led Toyota to slash output for the month of September by 40 percent. In addition, COVID-19 restrictions in the ASEAN region have halted production of some of Toyota’s parts suppliers, further straining production for the highly-popular full-size SUV.
Demand for the Toyota Land Cruiser 300 is at 20,000 units, but so far, Toyota has only managed to deliver 5,000 units. Because of this, some Japanese dealers are warning that the waiting times for the new Toyota Land Cruiser 300 could stretch as far back as four years for the ZX and GR Sport variants, which make up 90 percent of the demand in Japan.
This comes at a time when a few Toyota Land Cruiser 300s have already made their way to the Philippines and as of this article’s posting, is now on sale at dealers before its official launch.
There’s no doubt that the current production shortages will also affect Land Cruiser 300 sales in the Philippines. Unfortunately, it’s exactly this kind of opportunity that numerous Toyota dealers take advantage by hiking up their retail prices or force buyers to finance their new vehicle. In addition, scalpers are also prevalent in the Philippines, where they buy a large quantity of these high-demand vehicles and then sell it for a price that’s far higher than Toyota’s MSRPs.