2016 Toyota Fortuner

[jut703]

Went to Toyota BGC earlier for my car's PMS. Checked out the Fortuner while waiting. My thoughts:

1. Color scheme for the G is really problematic, to say the least. I would suggest getting leather seat covers since the middle part of the seat is difficult to clean. For the door fabric, the part where you put your elbow on the door will be most prone to stains.

2. There's a lot of leather on the armrest, dash board, handbrake, center console, and steering wheel. This makes getting leather seat covers a good idea.

3. Legroom is decent for both second and third row. Reclining 3rd row seats help make the ride more comfortable for those unfortunate enough to be seated there.

4. Regardless of variant, the Fort looks more awesome in person than in pictures. I can imagine how much better it'll look with 20" rims. The G doesn't have the chrome lining from the A to D pillar that the V has. It adds a touch of class to the car. The chrome door handles aren't much to my liking though, but they're not exactly tacky.

5. Unlike the Montero and Everest, the Fortuner has a beautiful rear.

6. The 3rd row seats are much easier to stow because of the spring-assisted mechanism. However, it does reduce the available cargo space a lot. I still would've preferred a flat-folding 3rd row.

Bottomline, I would understand why the Fortuner will still be the top-selling PPV despite being short on features. So many people were in the showroom today, asking how to trade in their existing cars and when they can get a Fortuner as quickly as possible. I expect a lot will bite the in-house financing deals just to get a unit.


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[StockEngine]

Lexus-esque tail lights. I need to see one in a showroom. Including the Innova.

[Wh1stl3r2]

The front end's chrome bits remind me of Ultron. Apart from that, pretty car.

In-house financing gets priority even over cash buyers. You guys might want to check out Toyota Marikina and Cubao. Being Metrobank owned, in-house financing is Metrobank financing. Would save you a bundle and not have to worry about not getting prioritized.

Is it true that Toyota is requiring buyers to purchase around 100K worth of Toyota accessories?

[br733]

The front end's chrome bits remind me of Ultron. Apart from that, pretty car.

In-house financing gets priority even over cash buyers. You guys might want to check out Toyota Marikina and Cubao. Being Metrobank owned, in-house financing is Metrobank financing. Would save you a bundle and not have to worry about not getting prioritized.

Is it true that Toyota is requiring buyers to purchase around 100K worth of Toyota accessories?

i doubt it... they do not have a near monopoly of the market anymore. so many choices available now.

maybe with the innova, considering there is no direct competition right now.

[wandrokulit]

The front end's chrome bits remind me of Ultron. Apart from that, pretty car.

In-house financing gets priority even over cash buyers. You guys might want to check out Toyota Marikina and Cubao. Being Metrobank owned, in-house financing is Metrobank financing. Would save you a bundle and not have to worry about not getting prioritized.

Is it true that Toyota is requiring buyers to purchase around 100K worth of Toyota accessories?

Last priority cash buyer. My sales agent won't entertain me now for the new Fort because he knows I'm a cash buyer.

[dreamur]

Last priority cash buyer. My sales agent won't entertain me now for the new Fort because he knows I'm a cash buyer.

Nonsense. Are you paying in cold cash or through bank PO? Either way that is still sales to the dealer and they should not refuse your business. Why dont you talk to the manager? SAs have their own personal agenda.

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[tsupermario]

Based on the pic, it does like fabric.

My bad. I got confused after looking at various variants on the same day.

afair the door sidings and the seats do not have the same texture that is why i thought the sidings were made of leather.

[ronw123w124]

i doubt it... they do not have a near monopoly of the market anymore. so many choices available now.

maybe with the innova, considering there is no direct competition right now.

Toyota may not have the monopoly of the market anymore but there are still a lot of people out there who are hesitant to buy a Montero, MUX and Everest but wouldn't think twice in buying a Fortuner

[jut703]

The showroom was so full of people earlier today, getting quotes for the new Fortuner. Call it overpriced or underspec'd, at the end of the day, people think that it's priced well because it's a Toyota and are all scrambling to buy it.

Because demand far outstrips supply right now, dealers maximize the opportunity. Who wouldn't?


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[StockEngine]

The base automatic is actually priced ok at 1.476M

Im guessing Mitsubishi had to extend the 50k discount just to level the field for the moment. And they can remove the discount anytime to justify the price increase. Fair game for the manufacturers.

Now if only bank interest rates are lower... the sales figures will rocket

Thinking out loud lol

[Wh1stl3r2]

Not really surprised dealers are maximizing opportunity, just wondering if the requirement to buy accessories is true. I hope they're not gaudy like Honda's Modulo.

[predo]

I remember when MU-X was newly released. SA's won't bother entertaining you further the moment they hear bank PO..i wouldn't be surprise with this Fortuner.nasty practice.

Nonsense. Are you paying in cold cash or through bank PO? Either way that is still sales to the dealer and they should not refuse your business. Why dont you talk to the manager? SAs have their own personal agenda.

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[vinj]

Ganyan talaga, the agent gets more incentives from in-house financing and insurance so they will prioritize that to augment their income. It's but natural especially in high volume car companies where sales commissions per unit is quite low.

Just hold your wallets and wait a few months before ordering a unit if you can wait and wait for the hype and euphoria to settle.

[dreamur]

And is this being tolerated by upper mgmt when the objective is to maximize revenue?

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[JohnM]

And is this being tolerated by upper mgmt when the objective is to maximize revenue?

When buyers are willing to wait months for their ride they can afford to set aside those who do not toe the line

Some cash buyers get their vehicles via in-house loan and insurance then just pay off the balance after one year.

Get them while they're hot

[vinj]

And is this being tolerated by upper mgmt when the objective is to maximize revenue?

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Just trying to put on the management hat: The higher the margins from a sale, the better. That is especially if you have limited supply and brisk demand (as is the case when a vehicle is newly launched). Receiving payment in cash is not an incentive to them since they also get cash if the vehicle is settled through financing and it is not the dealer who takes on the burden of the amortization.

If i were an agent, i too would want to earn more per sale. Same effort, better returns, especially when units on hand are limited.

Companies time and again, will always look at the effects of price adjustments on their topline. They can always raise margins now and give good discount incentives later on when sales are wanting.

[crazy_boy]

i was told that the allocation per month per dealership is limited to 20 units.

[jut703]

Super liit ng kita sa cash. Of course they'll prioritize in-house financing.

The only time you can get a hot-selling, low-supply car in cash is if you know someone from the inside.


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[dreamur]

Okay, I get it. So they are offering inhouse financing so that they can collect the interest instead of the bank.

Still they run the risk of buyers defaulting on their amortization as opposed to having the banks take on this risk. Of course they can sequester the unit but that is too muc administrative work for me. Id rather have the cash now at lower margin than reflecting higher sales and margin but recognizing a write off later. But I guess the SAs would have collected their commissions by then so they dont even care at all. Customer service down the drain.

Oh, and will top mgmt get a share of the commission? If that is the case, then that explains everything.

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[jut703]

Okay, I get it. So they are offering inhouse financing so that they can collect the interest instead of the bank.

Still they run the risk of buyers defaulting on their amortization as opposed to having the banks take on this risk. Of course they can sequester the unit but that is too muc administrative work for me. Id rather have the cash now at lower margin than reflecting higher sales and margin but recognizing a write off later. But I guess the SAs would have collected their commissions by then so they dont even care at all. Customer service down the drain.

Oh, and will top mgmt get a share of the commission? If that is the case, then that explains everything.

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Sobrang layo ng margin ng cash sa in-house. At 40% effective interest over 5 years, the customer pays the value of an Altis V for a Vios E.

Bad debt expense is already factored in, but still, the huge interest far offsets that.

If your objective is to make the most profit from a scarce number of available units, why sell cash when you can sell in-house? There is no lack of in-house financing buyers. It feeds on the materialism of people who want cars now, and these customers even think they've gotten good deals because of low DP and a long payment term.

The concept of interest is very abstract for many, and they don't look at expenses based on total cash outlay or even NPV basis.


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