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How Toyota is boosting the value of its used cars

Toyota has started offering an upgrade service in Japan that allows customers to “swiftly evolve their cars” through retrofitting new technologies that weren’t available at the time they purchased the vehicle “as part of its efforts to enhance car value,” said the manufacturer.

Initially, this service – which is called Kinto Factory – is only available for the Prius and with limited safety and comfort technologies, but as time goes by, Toyota will expand the upgrade menus and supported models “so that customers can continue driving their beloved cars for many years to come,” it said.

The enhanced technologies can be purchased with a one-off lump sum or financed on a monthly basis until paid off, with prices currently ranging between 14,960 to 116,600 yen (R1,984 – R16,048) for a full payment, and 440 to 3,410 yen (R58 – R452) when choosing monthly rates.

For the Japanese market, the available upgrades and their related costs, converted into Rand, are as follows:

Upgrade Price
Acceleration Suppression System R1,984 (R58 p/m)
Steering Wheel Heater R5,106 (R146 p/m)
Toyota Teammate  R12,838 (R350 p/m)
Blind-spot monitor R13,130 (R365 p/m)
Toyota Safety Sense R13,130 (R365 p/m)
Parking support brake R15,464 (R423 p/m)
Panoramic View Monitor R16,048 (R452 p/m)

Panoramic View Monitor

The situation in South Africa

While Toyota hasn’t yet confirmed whether the “Factory” option will form part of its Kinto offerings in South Africa, it has said that it is working on bringing after-sales conversions to the country.

At a media roundtable earlier in 2023, the automaker’s domestic subsidiary said that in the future, it will become possible for owners to take their petrol and diesel cars to dealers and convert them to run on hydrogen or carbon-neutral e-fuels, so that they won’t have to sell them and buy another new-energy vehicle (NEV) they don’t particularly want.

This is part of Toyota South Africa’s (TSAM) strategy to cut emissions by 40% before 2026 across its entire operational chain including the Lexus and Hino sub-brands, and to have approximately 40% of its passenger car sales consist of NEVs.

Moreover, in two years’ time, TSAM said it will expand a select few products including the Hiace mini-bus to suit a “much wider range” of use cases, and that it will increase conversions and accessories for “normal products.”

The company didn’t specify what these conversions and accessories will be, exactly, only that they will “take the market by storm.”

This alludes to the possibility that Kinto Factory may come to South Africa over the next few years, similar to other Kinto products that started in Japan and made their way to our market. However, keep in mind that no official announcement has been made yet regarding this programme’s local availability.

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