- Excitement for the 2024 Toyota Land Cruiser is high, and dealers are cashing in.
- Despite carrying an MSRP of around $77,000, some dealerships are charging as much as $97,000 for the 2024 Toyota Land Cruiser First Edition.
- That’s due to markups that reach as high as $21,000, particularly among California dealers.
When Toyota announced that the Land Cruiser nameplate would be making its welcome return to the North American market, we all got excited. Dealers have noted that joy and, frustratingly, are ready to cash in on it, having tacked tens of thousands of dollars in markups onto the prices of the off-roader just as it arrives on their lots.
For instance, Maita Toyota in Sacramento, California, is offering a pair of 2024 Land Cruiser First Editions with selling prices of $91,295 and $91,645. Those are eye-watering prices, and they come as a result of “dealer adjustments” of $14,950.
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Similarly, Magnussen’s Toyota of Palo Alto lists a pair of Land Cruiser First Editions at $93,304 and $92,473, despite the fact that their MSRPs are just $77,305 and $77,474. Again, the reason for the premium is a dealer adjustment of $14,999.
Future Toyota of Yuba City, California, has decided that it can add a markup of $19,995 on its Heritage Blue and Grayscape Land Cruiser First Edition. Despite a suggested price of $76,695, the dealer is asking for $96,690.
Thompsons Toyota, in Placerville, California, reached the $20,000 figure with its markup, and is charging $97,043 for the SUV. Ironically, at the top of its website, the dealership boasts that it “will not be undersold.”
As this is written, the biggest “dealer adjustment” we’ve seen is $21,000. First noticed by The Autopian, the Land Cruiser is being offered by Concord Toyota (again in California), and has an advertised price of $97,345, despite its MSRP of $76,345.
Read: Toyota Tacoma Markups Are Here As Some Dealers Are Charging An Extra $5,000
Unfortunately, dealer markups are by no means unique to the Land Cruiser, or Toyota for that matter. A quick look through our archives shows dealers overcharging for all kinds of vehicles, from Dodge Challengers and Ford Mustangs to Hyundai Ioniq 5 Ns and everything in between.
They never seem to get any less disappointing, though. While dealers may point to the principal of supply and demand, it remains hard to stomach that they’re openly inflating prices for no other reason than they simply can, and are taking advantage of customers who really want the new Land Cruiser.
Moreover, those markups will drive away a number of potential buyers who refuse to pay such exorbitant prices and/or discover that, with “market adjustments”, the new SUV sells for more than what they can afford.
