Why the Land Cruiser Prado Remains a Hot Buy Despite a 500 Million Dong Price Increase

Toyota has unveiled the new Land Cruiser Prado in Vietnam in mid-October, featuring exterior and interior upgrades and a new price tag of 3.48 billion VND.

Since its launch, the Toyota Land Cruiser Prado has garnered significant attention from Vietnamese customers.

The presence of the Land Cruiser Prado at the VMS 2024 exhibition a week later also inadvertently made this off-road SUV the “focal point” of attention at the Toyota booth, instead of the electric vedette FT-3e located at the highest position on the stage.

The appeal of the new Toyota Land Cruiser Prado is further evident as some customers are willing to pay up to 500 million VND extra to get their hands on the vehicle sooner.

Limited Quantity, Wait Time Up to 6 Months

Contacting a Toyota dealership in Ho Chi Minh City, Tri Thức – Znews confirmed that the Toyota Land Cruiser Prado is not a model that is widely promoted to customers.

“The Toyota Land Cruiser Prado has always been a model with limited quantity in Vietnam. Usually, sales consultants do not proactively introduce it to customers, only providing information when customers take the initiative to inquire. The Land Cruiser Prado is also rarely displayed at dealerships because most of the vehicles imported to Vietnam are already pre-ordered,” shared the sales consultant.

The Toyota Land Cruiser Prado attracted much attention at VMS 2024.

Previously, several private dealerships were reported to have offered the new Toyota Land Cruiser Prado at a price 450-500 million VND higher than the official price, with a commitment to deliver the vehicle by the end of November. If customers wanted to take delivery before the Lunar New Year, the premium would be around 300-350 million VND.

If customers are not willing to pay the premium, they would have to wait until the second quarter of 2025 to receive their Land Cruiser Prado, which is about 6 months from the time Toyota Vietnam announced the new version of the off-road SUV.

The appeal of the Toyota Land Cruiser Prado is not limited to Vietnam. When it was launched in Germany in December 2023, all 1,000 units of the Toyota Land Cruiser Prado were quickly sold out. Latecomers would have to join a waiting list.

The first batch of 1,000 Toyota Land Cruiser Prado units quickly sold out in Germany. Image: CarBuzz.

In the United States, the Future Toyota dealership in Yuba City, California, was reported by Carscoops in April to have offered two Toyota Land Cruiser First Edition 2024 models in Heritage Blue and Grayscape colors at a premium of nearly $20,000.

Customers who wanted to purchase these vehicles had to pay $96,690 to the dealership, while the manufacturer’s suggested retail price was only $76,695.

Retains High Resale Value

According to information provided by Drive, the Toyota Land Cruiser Prado is among the models with the best resale value in Australia in 2023. The Toyota off-road SUV has an average resale value of around 79.6% compared to its new car price.

Data from Car Edge also indicates that the Toyota Land Cruiser Prado depreciates by about 39% after five years of ownership. This website predicts that a new Toyota Land Cruiser Prado could lose about $17,000 in value after approximately two years of use.

The Toyota Land Cruiser Prado sports a new exterior design. Image: TMV.

At the front, the hood combines with a black-painted vertical slat grille to create a square appearance for the off-road SUV. The LED headlights are rectangular and are equipped with automatic high beam technology.

The rear hatch of the Land Cruiser Prado now opens upwards instead of sideways, as in the previous generation, and comes with a hands-free opening feature and an independently opening rear window.

The cabin of the new Toyota Land Cruiser Prado also features a boxy design similar to the exterior. The physical buttons in the cabin are in the form of push buttons, toggles, or rotary knobs. The gear lever is of the straight type. The interior mirror is electronic. The vehicle is also equipped with a three-zone automatic climate control system.

Interior of the new Toyota Land Cruiser Prado. Image: TMV.

Under the hood, the Toyota Land Cruiser Prado is powered by a 2.4L turbocharged gasoline engine that produces a maximum output of 267 horsepower and a peak torque of 430 Nm, paired with an 8-speed automatic transmission and a four-wheel drive system.

The SUV is equipped with an adaptive suspension system, active noise cancellation, and a redesigned frame structure. It also offers four additional off-road driving modes on top of the five standard driving modes.

The price of the Toyota Land Cruiser Prado in this new version is 3.48 billion VND. The vehicle continues to be imported from Japan.

Modest Sales Figures but a Dedicated Customer Base

One of the reasons for the high price of the Toyota Land Cruiser Prado lies in its imported origin.

Currently, imported cars from Japan are still subject to high import taxes, resulting in vehicles assembled in the Land of the Rising Sun being priced higher than the market average when they arrive in Vietnam.

A case in point is the Toyota Land Cruiser Prado, along with the Honda Civic Type R (nearly 2.4 billion VND), Toyota Alphard (4.37-4.475 billion VND), and more recently, the Subaru Crosstrek (1.098-1.299 billion VND).

The Toyota Land Cruiser Prado caters to a specific customer base.

Nevertheless, the high price is not an issue for the specific customer group of these models, especially the Toyota Land Cruiser Prado.

In addition to the image value that this SUV brings, owners of the new Land Cruiser Prado also gain access to the latest features and technologies equipped on the vehicle, along with the model’s reputation for having one of the best resale values in the market.

Last year, the Toyota Land Cruiser Prado sold 202 units in Vietnam, outperforming some other models of the same brand, such as the Toyota Alphard (135 units), Toyota Yaris (134 units), and Toyota Hilux (134 units).

This indicates that the sales performance of the Toyota Land Cruiser Prado in Vietnam is not as poor as one might assume, despite the high price tag and the limited availability of units.

In summary, the Toyota Land Cruiser Prado is a rather unique model in the Vietnamese market, both in terms of its selling price and the specific customer group it attracts.

Despite the controversies surrounding the 3.48 billion VND price tag or the premium of up to 500 million VND to take early delivery, the popularity of the new Toyota Land Cruiser Prado in Vietnam seems set to continue, much like its previous generations. It may not be a sales blockbuster, but it will always be a sought-after vehicle.

You may also like

The Ultimate Electric Thrill Ride: Lynk & Co 02 Unveiled with 335 HP and an Impressive 530 km Range on a Single Charge.

The Lynk & Co 02 has been unveiled with a starting price of RMB 138,900, which equates to approximately VND 485 million.

The Zeekr 009 MPV: Poised to Take Vietnam by Storm

The Zeekr 009 MPV has achieved a record-breaking sales figure of 4,201 units in November. This exceptional performance showcases the vehicle’s popularity and appeal to customers seeking a versatile and innovative people-mover. With its sleek design, cutting-edge technology, and impressive performance, the Zeekr 009 is revolutionizing the MPV segment and setting a new benchmark for the industry.

“MG5 Deal: Massive Savings of Up to 100 Million VND on the Manual Transmission Model”

Introducing the MG5 MT – the ultimate driving machine, now available with an exclusive discount offer! Our southern sales consultants are thrilled to announce this incredible opportunity to own this sleek and powerful vehicle. With its dynamic design and impressive performance, the MG5 MT is an exceptional choice for those seeking a thrilling driving experience. But hurry, this offer won’t last forever! Upgrade your driving game today with the MG5 MT.

The All-New Nissan Almera 2025: Unveiling Three Stunning Variants for the Vietnamese Market, Starting at 489 Million VND

The 2025 Nissan Almera receives a subtle redesign, enhanced comfort features, and a host of advanced safety technologies, positioning it as a formidable competitor in its segment.

The All-New Audi Q5 Sportback 2025: A Stunning SUV-Coupe Fusion, Starting at 1.46 Billion VND.

Audi has unveiled the new Q5 Sportback, adding a sleek and sporty twist to its Q5 SUV lineup. Just three months after the debut of the standard Q5, Audi is expanding its offerings with this dynamic new model.