The Toyota Prado is one of the few vehicles in New Zealand that regularly sells for a higher price secondhand than when new, driven by supply constraints, Australian imports with heavy modifications, and strong dealer waitlists.
The Toyota Prado occupies an unusual position in the New Zealand vehicle market: it is one of the few vehicles that routinely sells for more money secondhand than it does new. The average estimated value for a new or near-new Prado on Trade Me Motors sits around $100,700, while the starting price for an equivalent new model on Toyota's website is approximately $85,000.
Lisa Stewart, head of Trade Me Motors, said about a quarter of pre-owned Prados were listed above that benchmark, and more than a quarter of low-mileage dealer-certified examples attracted a higher price than newer models. "This premium is driven by supply constraints, high-specification trims, and seller optimism, with dealer waitlists making online listings for new Prados uncommon," she said, as RNZ reported.
The supply shortfall is partly a function of how Prados enter the New Zealand market. Most second-hand Prados come from Australia, where Toyota's supply is generally not constrained. Terry Collins from the AA said Australian-specification Prados were often fitted out for tough terrain — snorkels, heavy-duty suspension kits, elevated configurations — that make them more capable off-road and more desirable in the used market than a standard new model. A well-equipped Australian import can appear more expensive as a used vehicle than a base-spec new Prado because of those additions.
EV sales are also rising
The broader vehicle market is shifting. Registration data from the Motor Industry Association shows 11,294 vehicles registered in May, up 10.4 percent on the same month a year earlier, with battery electric and plug-in hybrid vehicles making up a growing share. More buyers are choosing electric, a trend that has accelerated as fuel prices have fluctuated.
For anyone in the market for a Prado — or any popular used SUV — the dynamics are worth understanding. Supply constraints and long waitlists for new stock mean that buyers in a hurry often have no choice but to pay a premium for a used model. That premium can persist as long as new supply remains limited. Buyers should weigh up whether the premium is justified by their actual needs, and whether a similarly capable alternative might be available for less.
This article is for general information only and is not personalised financial advice. Seek advice from a licensed financial adviser (registered on the FSPR) for guidance specific to your situation.