Toyota has always been famous for its reliable, fuel-efficient, rugged, and desirable vehicles. Toyota’s popularity has dramatically increased over the last two decades due to its exceptional resale value and reliability.
However, Toyota’s are not as cheap to purchase as they used to be. Why has buying new or second-hand Toyota cars suddenly become so pricy for most consumers?
Here are 7 reasons why Toyotas are so expensive.
1. Unmatched Reliability
It is widely accepted that Toyota designs and manufactures some of the most reliable vehicles seen on the road.
Their industry-leading reliability has allowed the Japanese car company to consistently raise their prices over the previous decade.
Moreover, Toyota is famed for having incredibly reliable electronics, suspensions, and other vehicle parts, resulting in their cars having no clear weaknesses. It is known that the more reliable a car is, the higher its price will be.
Reliability in a car is a non-negotiable for car owners. Due to Toyota’s globally revered reputation for unmatched reliability, its prices have increased correctly.
Throughout Toyota’s history, the company has focused on producing simple engines and other car parts, significantly enhancing their vehicles’ reliability.
Other major car companies manufacture cars with complex components such as turbochargers, increasing their likelihood of experiencing an unexpected failure.
Over the coming years, Toyota’s are expected to become pricier. However, if Toyota’s cars retain their associated reliability, consumers will continue purchasing them at record rates.
2. Industry Leading Reputation
A brand’s reputation is the most significant factor influencing global sales figures. Toyota’s global reputation is excellent due to its reliability and value-for-money offerings.
Toyota’s stellar reputation for reliability and functionality has allowed the company to sell its cars at a higher price point.
While Toyota’s price points have started to creep towards being on the high side over the last decade, the company has managed to maintain its association with high value-for-money vehicles.
It is globally accepted that Toyota has an outstanding and proven track record. While some claim Toyota’s timid and conservative, their simplicity, quality, and functionality remain unmatched.
The combination of desirable vehicle characteristics and a proven sustainable investment decision has made Toyota increasingly pricy over the previous decade.
3. Versatility And Usefulness
Toyota produces a wide range of appealing car models. Many people and businesses use one of Toyota’s pickup truck models as a work vehicle.
Due to Toyota pickup trucks’ reliability and versatility, they are especially popular as work trucks. The cars come standard with numerous features appropriate for personal or commercial usage.
Their popularity as personal and work vehicles has significantly increased global demand, directly contributing to their ever-increasing prices.
Moreover, Toyota’s can be used as work trucks while simultaneously offering unmatched cabin comfort. It is known that Toyota cars can handle extensive damage to their exterior while maintaining their expected interior and overall performance.
Toyota cars are widespread among consumers and businesses, meaning the demand for the Japanese car company’s vehicles continues to increase.
4. World-Class Off-Roading Capabilities
Modern Toyota cars are as capable in rugged and rough off-road terrains as on local highways.
Toyotas’ ability to transverse even the dustiest and most uneven roads while offering a luxurious cabin experience has made their cars more expensive.
Current Toyota models come standard with a wide range of desirable off-roading features such as an automatic slip differential, high road clearance, and an advanced suspension.
Furthermore, overlanding and off-roading prevalence has increased. Due to Toyota’s known vehicle reliability, off-roading features, and comfortable interiors, their demand among off-road enthusiasts has continued to increase.
Toyota cars and trucks’ associated image has consistently been enhanced, further heightening the price points.
5. Low Available Inventory
Toyota is consistently among the best-selling car companies globally. However, Toyota experiences unique economic influences as car owners don’t often sell their beloved vehicles.
Since Toyota car owners are known to hold on to them for as long as possible, the available global inventory is low. Competing car companies have a far higher inventory, lowering consumer demand and prices.
Conversely, Toyota’s surprisingly low available inventory significantly increases consumer and business demand, raising their vehicles’ prices. There is a limited amount of Toyota cars on the road and the market, meaning that their resale price point is incredibly high.
Despite Toyota’s being expensive due to low available inventory, consumers continue buying their cars in record numbers, a trend that is expected to increase further over the coming years.
6. Low Maintenance Costs
Toyota vehicles have the lowest maintenance and repair costs of all car companies globally.
The Japanese car-making giant is known for its design simplicity and general reliability, with these two characteristics directly resulting in low yearly maintenance costs.
While low maintenance costs are desirable for any car owner, it will result in the vehicle having a far higher initial price point.
As Toyota car owners will not be required to fork out large sums of cash for yearly maintenance costs, they will be required to pay more for the vehicle upfront.
7. High Marketing, Research, And Development Costs
Toyota vehicles have always been famed for their reliability, versatility, and functionality; however, the company has continuously injected capital into research and development over the previous two decades.
Toyota has invested enormous cash towards in-house research and development, and their cars are among the most technologically advanced globally.
While Toyota owners can expect advanced suspension designs, interiors, and off-roading capabilities, the initial research and development costs were recovered by continuously increasing prices.
While Toyota traditionalists claim that current models are unnecessarily expensive and complicated, the Japanese car company maintains an incredibly low price point when considering their cars’ value for money.
Moreover, Toyota has directed additional funds toward marketing goals. The car company’s marketing drive has directly resulted in additional yearly sales; however, it has simultaneously resulted in Toyota’s becoming pricy for the average consumer.
