Prices for second-hand 4WD and utes have taken off in Australia as waiting lists for new imported vehicles grow and enthusiasts seek projects for restoration during the COVID restrictions.
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Prices for vintage vehicles have jumped, with iconic off-road transports like Series I, II, and III Land Rovers fetching high prices, shipped back to England by collectors. Early model Toyota LandCruisers are also at a premium.
Second-hand car prices have surged generally as worldwide car production slumped due to the pandemic, but commercial, SUV and 4WD vehicles have outstripped all other styles. Mechanics are reporting a boom in business as vehicle inspections, repairs and roadworthy certificates mount.
David McKenzie is a new car sales manager at Ballarat Toyota. He says there is a 10-to-12 month wait on vehicles like the LandCruiser 70, imported into Australia from Japan. The dealership has sold several of the model recently, despite delivery delays. He says there's little likelihood of demand falling.
Somebody will buy a new vehicle off us and then spend $12,000 putting a new back on it, but there are plenty of $200,000+ plus vehicles getting around
- David McKenzie, Toyota
"They're still considered a niche market vehicle as far as Toyota are concerned," Mr McKenzie says.
"In Australia, they're very popular because of their rugged nature. They have had upgrades over the years, fairly subtle, but styling-wise they're very similar to how they used to be. Safety equipment has been improved; engine, that kind of thing. Predominantly they remain very basic. I think that draws a lot of people."
Mr McKenzie says vehicles like the LandCruiser have strong resale value. Buying a new vehicle which retains worth five or 10 years later also means owners look after a vehicle and upgrade it.
A new LandCruiser 70 retails in the $80,000 range, he says. Some of the older accessorised 4WDs are fetching more than that.
"Somebody will buy a new vehicle off us and then spend $12,000 putting a new back on it, but there are plenty of $200,000+ plus vehicles getting around," he says.
The LandCruiser is 70 in 2021, reverse-engineered from the US Jeep in 1951. They were known as 'Toyota Jeeps' until US manufacturer Willys claimed trademark violation in 1954.
Toyota supplied the vehicle to US and South Korean forces during the Korean War. Their reliability saw them used in civilian roles such as mining where a rugged but comfortable riding 4WD had an advantage.
Another advantage of the Toyota was its superior electrical system. While Land Rover and other off-road vehicles had been on the market longer, they suffered from less-than-perfect wiring. In fact, the Lucas company, which supplied electrical components and wiring to most English-made cars and trucks, was mocked as an acronym for Leave Us Cold And Stranded.
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