Toyota Australia has taken unprecedented steps to screen potential new buyers GR Corolla hot hatch to ensure the car – which is available in low numbers due to supply constraints – finds a legitimate enthusiast owner.
The Japanese brand has initiated measures to try and fend off an onslaught of price gougers who have found buyers willing to pay more than possible for their new cars during the COVID period.
Toyota Australia franchise sales, marketing and operations manager Sean Hanley said the brand was asking dealers to be more proactive in ensuring the right buyer got the right car.
Mr Hanley also said that if a buyer slips through his system and tries to trade in a highly desirable model for a profit, there will be no direct effect of blacklisting the buyer, as is the case with some exotic car brands when buyers flip their vehicles for profit.
“There’s no impact, we’re just hoping we get it in the right hands,” he said, before going on to say that dealers also have their part to play in this game.
“We remind you [Toyota dealers] about their obligations and the standards under which we operate, very quickly,” he said when asked what happens if the brand finds out about dealers asking for new car parts. “We did not publicize it. If there is anything that we believe is damaging to our brand, we do it immediately.”
The GR Corolla has an initial allocation of 700 units for the five-seat GTS model (up from the original figure of 500) for the first year of sale, while the Morizo Edition model is limited to just 25 units.
“We decided in November [2022] to ask the dealer to complete an expression of interest [form] providing additional information about everyone looking to buy a Corolla GR before a contract is signed or a deposit is taken,” said Mr Hanley.
“The expression of interest covers the customer’s motoring interests and history – not just with Toyota, but with sports cars in general – and their involvement in car clubs.
“This approach aims to ensure that – as far as possible – these cars end up in the hands of enthusiasts and loyal customers who really want to enjoy their GR ownership.”
Mr Hanley said it all boils down to economic principles – supply and demand – which he thinks will turn in favor of supply in the latter part of 2023.
“Hopefully in the second half of 2023 we’ll see more supply – we’ll start to see that generally in the industry, I think – and I think you’ll find that these ‘price gouging’ events will come down dramatically,” he said.
Mr Hanley said that while all the steps taken to try and allocate orders to the right customers had the best of intentions behind them, he also said there was no perfect way to do it.
“[For GR models] we try our best to bring it to the fans. We try our best – it’s not a perfect solution, but we try our best according to the laws of the country where we operate,” he said.
He has a strong message for potential buyers who may have missed out on the first run of allocations in Australia, and for any Toyota customers who can’t get what they want when they want it.
“My simple message, and Toyota’s simple message to its customers, is ‘don’t pay!’ do not do it. Wait,” he said. “Don’t pay more retail for Toyota.”
Examples can be found online of the high demand for almost new Toyota products that attract a premium of up to 30 percent over list price. A quick search shows examples like the Toyota Corolla Cross Atmos hybrid all-wheel drive listed for $69,888 – above the list price of $49,050 (plus on-road costs).
The same goes for the HiLux, Prado, Landcruiser 70 Series and 300 Series models, and Toyota knows customers who order, receive and then trade in the brand’s limited-available GR performance cars as well.
MORE: It’s all Toyota Corolla