Toyota officially confirms Land Cruiser resale ban over security concerns

Earlier this week, we reported about Toyota's ban on 2022 Land Cruiser resale over security concerns. Now, the Japanese automobile giant has confirmed the news by issuing a formal statement.

According to a Japanese publication Mag-X, preorders for the full-size luxury SUV have been temporarily suspended. New buyers of the 2022 Toyota Land Cruiser will have to sign a pledge not to sell the SUV to export markets.

Speaking about this Toyota Motor Corporation has said the Land Cruiser is popular in many overseas markets and the company is concerned about Japanese-market spec models being resold to other countries. "Land Cruiser is particularly popular overseas, and we are concerned about the flow of vehicles from Japan to overseas immediately after their release, as well as the possibility of them being exported to certain regions where security regulations are in place," the statement added.

It also said that the automaker is concerned that in case a Toyota dealership becomes subject to investigation on suspicion of involvement in a violation of Foreign Exchange and Foreign Trade Law (Foreign Exchange Law), it would be a major problem for the stakeholders such as the particular dealership, the automaker and its other dealers as well.

Keeping this fact in mind, the automaker has alerted all its dealers in Japan to minimize the chance of any legal violations. New consumers signing a pledge not to sell the 2022 Land Cruiser is a part of that strategy.

This decision comes after the Toyota Land Cruiser (LC300) has raked up more than 22,000 pre-orders in entire July. The SUV will go on sale on August 2 at a price tag of around $46,500. This new generation model is $2,700 pricier than the outgoing model.

According to the Japanese publication, Toyota presumes a large number of these over 22,000 pre-orders would be resold. If this is verified, these pre-orders might be cancelled.