- Toyota will extend flagship model cycles to an average of nine years.
- Company turns to software updates to maintain vehicle value and features.
- Dealers raise concerns as Toyota reviews wholesale pricing practices.
Toyota is about to make another major shift in the way it produces cars. For decades, the company operated on a rhythm: redesigning its key models every four to five years, before extending that cycle to about seven years during the 2000s. It worked well enough.
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More: The EV Slowdown Just Made Toyota Change Its Mind Again
Now, it’s reportedly getting longer again, this time, to nine years between major redesigns. Toyota says that instead of big sheet metal and chassis changes, it’ll provide substantial software updates. We’ve already seen a hint of this approach with the latest Camry, which leaned more toward a heavy refresh than a completely new generation.
According to Nikkei, Toyota’s updated strategy will give it more flexibility to focus on electrification. In the process, leaning into software could help the brand build on its already good reputation for resale value.
For example, it could add performance updates, new driver-aid functions, and potentially subscription-based features via software.
Slower Cycles, Steadier Supply
The move comes as Toyota struggles to meet demand. Models like the Land Cruiser already have long wait times. As long as the brand has buyers lining up, there’s really no need to redesign highly-loved models.
Longer product cycles could also help to stabilize supply, give buyers more opportunity to pick up special cars they want, and help increase resale value simply because depreciation should be slower.
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Of course, stretching the lifecycle isn’t without its concerns. Toyota’s wholesale pricing traditionally declines over time. Now, the brand reportedly wants to review that approach and potentially change it dynamically to reflect sales conditions rather than time alone.
Not everyone’s on board. Nikkei report that some of Toyota’s roughly 230 Japan-based independent dealers have pushed back, arguing that more flexible pricing could eat into margins. Toyota, however, insists average wholesale prices will remain steady over the new nine-year span.
Frankly, this doesn’t seem all that wild. Toyota has been notoriously slow to update some vehicles like the 4Runner, and it’s easy to see why. Despite its age, it never really sold poorly.
Other brands like Stellantis have followed similar game plans with cars like the Dodge Charger and Chrysler Pacifica. Tesla famously hasn’t made a platform update to the Model S and Model X since those cars launched.
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If the cars are good enough, software may indeed be more than enough to keep them alive.
Source: Nikkei
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