Toyota wants enthusiastic GR Corolla buyers, won’t blacklist speculators

Toyota Australia has taken the unprecedented step of screening potential buyers of the new GR Corolla Hot Hatch to ensure the cars – which are available in small quantities due to supply shortages – find legitimate enthusiastic owners.

The Japanese brand has taken the move to try to sidestep the onslaught of price-boosting profiteers who have found buyers willing to pay above quota for their new cars during the COVID period.

Sean Hanley, Toyota Australia Sales, Marketing and Franchise Operations Director, said the brand is asking dealers to be more proactive to ensure the right buyer gets the car they deserve.

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Mr Hanley also said that if buyers slip through his system and work to flip a highly desirable model for profit, as is the case with some exotic car brands, there will be no direct repercussions such as the buyer being blacklisted, when buyers turn over their vehicles a profit.

“There are no repercussions, we’re just hoping we get them in the right hands,” he said, before going on to say that the dealers also have their part to play in the game.

“We remember [Toyota dealers] of their commitments and the standards we work to very quickly,” he said when asked what happens when the brand finds out that a dealer is asking for a new car. “We don’t publish it. If anything we think is bad for our brand, we jump on it immediately.”

The GR Corolla has an initial allocation of 700 units for the five-seat GTS model (up from the original number of 500) for the first year of sales, while the Morizo ​​Edition model is limited to just 25 units.

“We made the decision in November [2022] Ask merchants to fill out an expression of interest [form] Providing additional information about anyone wishing to purchase a GR Corolla before signing a contract or paying a deposit,” said Mr. Hanley.

“The expression of interest encompasses a customer’s motoring interests and history – not just at Toyota but in sports cars in general – and their involvement in car clubs.

“The approach is to ensure that, where possible, these cars get into the hands of enthusiasts and loyal customers who really want to enjoy their GR ownership.”

Mr Hanley said it all boils down to the principles of the economy – supply and demand – which he believes will recede in favor of supply at the end of 2023.

“Hopefully in the second half of 2023 we’ll see more supply — we’ll see that across the industry I think — and I think you’ll find that those instances of ‘price increases’ will go down dramatically,” he said.

Mr Hanley said that while any action being taken to try to allocate orders to the right customer is with the best of intentions, he also said there is no perfect way to do it.

“[For GR models] We strive to bring them to enthusiasts. We’re trying our best – it’s not a perfect solution, but we’re trying our best within the laws of the country where we operate,” he said.

He had a strong message for potential buyers who might miss out on the first run of allotments in Australia, and for any Toyota customer 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 too much for a Toyota.”

Examples of high-demand, near-new Toyota products that command premiums of up to 30 percent over list price can be found online. A quick search reveals examples like the hybrid four-wheel-drive Toyota Corolla Cross Atmos, which is listed for as much as $69,888 — well above the $49,050 list price (plus road expenses).

The same goes for the HiLux, Prado, Landcruiser 70 Series and 300 Series models, and Toyota is aware that customers will also order, receive and then turn around the brand’s limited-release GR performance cars.

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