This is from the 'Herald Sun' today, and indirectly has relevance to APE:

Wheeling and dealing

DAVID McCOWEN

Big instant profit on new models

OPPORTUNISTS are capitalising on the feverish demand for new cars in the face of stock shortages by selling their newly bought vehicles at a big mark-up.

Industry insiders say the appetite for some models is “out of control” to the point where buyers are making fivefigure profits by selling new cars days after taking delivery.

Sought-after models with long waiting lists, such as Toyota’s LandCruiser, RAV4 hybrid or GR Yaris and the Suzuki Jimny are changing hands for more than their new price as impatient motorists try to jump the queue.

Ross Booth, managing director of the vehicle valuations website Redbook, said: “The market is crazy. Normally cars go down in price when a buyer takes possession. At the moment some cars are going up in price — some substantially. The LandCruiser is a really good example.”

The LandCruiser is in runout mode ahead of a 2022 facelift. Toyota as not released any details of the new models, but there are rumours the V8 is being dropped. As a result, dealers have been inundated with requests to buy the limited remaining stock.

Dennis Johnson bought a top-spec model for $136,000 before he “saw an opportunity”. “I listed mine for $160,000 thinking I wouldn’t get any bites, but my phone went silly with inquiries … I’ve had people nearly crying on the phone with me, pleading to buy it. It’s abnormal.”

Another customer, who preferred not to be named, said he ended up with two Land-Cruisers after placing deposits at different dealers to ensure he didn’t miss out, and sold the second car at a significant mark-up. He said he was amazed, as his intention was not to profit but simply to secure a 2021 model.

Chatswood Toyota managing director Ian Mayer said: “I have seen nothing like it. It’s phenomenal.” He also put the demand down to Aussies buying boats and caravans with their overseas-holiday refunds and needing a tow vehicle.

He said his dealership had bought back LandCruisers from customers for more than the new price.

Other vehicles in high demand and selling at a premium include European sports cars and the last Aussie-made Holden and Ford V8s.

Some final editions of Holden’s Commodore SS are fetching $150,000 — nearly double their 2017 new price.