Prices skyrocket as Toyota axes V8 LandCruiser

Values soar as Toyota Australia announces end to V8 70 Series.

Toyota has finally dropped the V8 engine from the LandCruiser 70 Series

Opportunistic Toyota dealers and private sellers have entered full price-gouging mode as they look to capitalise on news the V8-powered LandCruiser 70 Series will be axed.

Toyota Australia announced this week it will accept no more orders for the popular 1VD-FTV V8 model, the final production run to occur in Japan in September. The V8 models affected are the LC79 WorkMate and GX utes, the LC76 Wagon and LC78 Troop Carrier.

Toyota said it would continue production of the V8-powered GXL 79 Series single and double-cab utes into 2025, with last deliveries of this vehicle occurring late next year. After that, all V8 LandCruiser production will have ceased.

With order books bulging and already a lengthy waitlist sometimes spanning years, many would-be owners with existing orders will not receive their vehicles. Toyota Australia’s Sean Hanley told local media the decision was “inevitable due to changing regulations and community expectations”.

The Toyota LandCruiser 70 Series is in-demand on both the new and used markets

Model year 2024 vehicles already in Australia have flooded second-hand classifieds websites as those lucky to have one in their possession look to capitalise. Torquecafe counted more than 100 examples of 2024 Toyota LandCruiser 70 Series V8s for sale, most with delivery kilometres and many priced around $130,000, some as high as $150,000.

Available as a five-speed manual only, the V8-powered 2024 Toyota LandCruiser retails for between $75,600 and $79,800 before on-road costs.

Toyota said it would continue deliveries of 70 Series with the 2.8-litre turbodiesel four-cylinder, and from October it will be newly offered with a five-speed manual. On paper, the 1GD turbodiesel four-cylinder outpaces the V8 with 150kW and 500Nm, versus the V8’s 151kW and 430Nm. The four-cylinder is also available with a six-speed torque converter automatic.

Since the model’s introduction in 1985, Toyota has delivered 346,742 units of the 70 Series, an estimated half of which have been equipped with the 4.5-litre turbodiesel V8. The much-loved utilitarian off-roader received a facelift and update in 2023.