Toyota Australia has made the decision to close the order books for the Toyota Camry Hybrid indefinitely due to an overwhelming backlog of orders that stretch back two years. The company made the announcement late this afternoon, stating that with a new model of the Camry just around the corner, some customers who were waiting for the current version could potentially receive the next generation of the sedan. In order to bridge the gap between the two models, Toyota Australia has suspended orders for the in-demand car. This means that the only way for consumers to purchase a Toyota Camry Hybrid now is to find a used example, such as a rental car or a former government fleet car.
The Toyota Camry Hybrid has defied the global trend of declining sedan sales by becoming one of the best-selling midsize sedans in Australia. This is largely due to its fuel-efficient technology, which has appealed to buyers seeking more environmentally friendly options. However, the suspension of orders for the new model is expected to drive up prices or maintain the value of used Camry Hybrids.
A statement issued by the company explained the decision, stating that 90% of customers for the popular midsize sedan have opted for the gasoline model rather than the electric model. Despite an increase in supply since May 2023, customer waiting times for the Camry Hybrid remain well over two years. This is in stark contrast to the company’s initial predictions when the new Toyota Camry was launched in Australia five years ago, which anticipated a 50:50 split in demand between petrol and hybrid variants.
The rise in demand for the Toyota Camry Hybrid is largely attributed to its fuel-saving technology, which has proved to be more efficient than rival brands. Toyota’s hybrid technology cuts fuel bills in half, with an average consumption of less than 5 liters per 100 kilometers in most cases. This significant fuel saving, particularly in light of rising gasoline prices, has propelled the demand for Toyota’s hybrid technology to unprecedented levels.
Toyota has been increasing production of its hybrid models over the past three years and has sold over 20 million hybrid cars in the past two decades. However, the company has still struggled to meet the high demand from customers. Despite improvements in supply from rival car brands in Australia, Toyota continues to have the longest waiting lists across a wide range of models.
Customers have experienced long wait times for other Toyota models as well, including the Toyota RAV4 Hybrid, the Toyota HiLux ute, and the Toyota HiAce van. In fact, the order books for the iconic LandCruiser 70 Series V8 were closed since last year due to waiting times of up to two years.
The decision to suspend orders for the Toyota Camry Hybrid is undoubtedly a setback for Toyota Australia. However, the company remains committed to meeting customer demand and has been ramping up production in an effort to address the backlog of orders. As consumers anxiously await the arrival of the new model, the used market for Toyota Camry Hybrids is likely to see increased interest and potentially higher prices.