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Alphard, Lexus LM, Land Cruiser: 2026 Prices and Export Rules

Published September 25, 2026 · Figures as of September 25, 2026

Toyota's big minivans and SUVs are some of the most requested cars from Japan. In 2026 they moved in opposite directions. The Alphard and the Lexus LM have become easier and cheaper to buy, while new Land Cruisers remain tightly controlled against resale and export. Here is where each stands and what to check before you buy.

Key takeaways

  • Toyota Alphard (40 series): the residual value of a 2023 Alphard Z (petrol) fell from 101% of its new price in February 2026 to 91% in August. Listings on one major Japanese used car site rose from about 400 two years ago to 2,313 on September 3, 2026.
  • Lexus LM 500h: the period of trading above the new price is over. After two years, the six-seat Version L keeps about 79% of its new price and the four-seat Executive about 70%.
  • Land Cruiser 300/250 and Lexus LX: buyers of new cars sign pledges not to export or resell them, and some dealers keep ownership for about a year. The Land Cruiser was also Japan's most stolen car for the fifth year running.
  • For recent Alphards and LMs, 2026 is a buyer's market. For young Land Cruisers, checking the paperwork matters more than the price.

Toyota Alphard: from premium to normal

When the 40-series Alphard launched in 2023, used examples sold for more than new ones because buyers faced long waits. That premium has gone:

  • The residual value of a 2023 Alphard Z (petrol) fell from 101% in February 2026 to 91% in August 2026 (¥4.91 million).
  • The average price of a petrol Alphard fell from ¥5.497 million in March 2025 to ¥5.018 million in late August 2026.
  • Listings on Carsensor, one of Japan's largest used car sites, rose from about 400 two years ago to 2,313 on September 3, 2026.
  • At the July 2026 auctions, fewer than half of the Alphards offered in the main regions were sold.

The reasons given are new-car supply returning to normal, a record number of trade-in appraisals and saturated export markets. Japanese analysts describe it as a normal correction, not a collapse in demand.

The hybrid is now the cheaper choice. In August 2026, a 2023 Alphard Z Hybrid kept 76% of its new price (¥4.71 million), against 91% (¥4.91 million) for the petrol version. If your market taxes cars by engine size or favours hybrids, a used Alphard Hybrid is good value right now. See the Alphards currently listed on our site.

Lexus LM: the premium has ended

The Lexus LM 500h, Lexus's luxury minivan, also traded above its new price when it arrived in Japan. That is over. After two years:

  • LM 500h Version L (six seats, new price ¥16.18 million): about 79%
  • LM 500h Executive (four seats, new price ¥21.18 million): about 70%

Export demand for the LM comes mainly from chauffeur services in Singapore and Hong Kong, and from China. Some markets only accept very young cars. Singapore, for example, registers only cars under three years old. For those markets, 2023–2024 LMs now reaching the used market at lower prices are an opportunity. See the Lexus LMs currently listed on our site.

Land Cruiser and Lexus LX: restricted by design

New Land Cruisers and the Lexus LX are rationed in Japan, and dealers work to keep them from being exported soon after sale.

  • Written pledges. Toyota dealers ask buyers of new cars to sign a pledge. The buyer agrees not to export or resell the car if it is not for their own use, and accepts that a breach can mean cancellation of the contract and no future sales. When the Land Cruiser 300 launched, Toyota said exports could breach Japan's Foreign Exchange and Foreign Trade Act and that, depending on the destination, the vehicle could pose an international security risk.
  • Ownership kept by the dealer. The pledge itself is not legally binding. But some dealers keep ownership of the car for about a year, even when the buyer pays in cash, which makes early resale practically impossible.
  • Limited new supply in 2026. Around March 27, 2026, dealers reopened orders for the Land Cruiser 300, for diesel models only. One dealer's conditions included trading in a car, not reselling within a year and being an existing customer. The updated Land Cruiser 250 went on sale on April 3, 2026, with lotteries where orders exceeded allocations.

Theft is the other risk. According to the General Insurance Association of Japan, insured car thefts rose to 2,746 in 2025 from 2,499 in 2024. The Land Cruiser was the most stolen model for the fifth year in a row, with 825 cases, 30.0% of the total.

What this means for you: be careful with any Land Cruiser 300, Land Cruiser 250 or Lexus LX offered for export within about a year of its first registration. It may breach a pledge, still be owned by a dealer or, in the worst case, be stolen. Check the owner on the Japanese registration certificate and the export deregistration certificate, and buy through an established exporter that can show the car's history.

Other favourites: kei cars and the Hiace

  • Kei cars (Japan's small 660 cc vehicles) are a fast-growing export. Used kei car exports rose from about 60,000 in 2023 to a record 87,136 in 2024, and to 52,791 in the first half of 2025 (+32.2%). The largest destinations were the UAE, Pakistan and Russia. Tall "super-height" wagons, kei trucks and custom models sell best. Note that Tanzania now charges 5% excise on cars of 1,000 cc or less (from July 2026), so the tax advantage of small cars is shrinking in some markets.
  • Toyota Hiace buyers have very different preferences by country. A 2023 exporter summary found that Uganda favours diesel manual vans, even with over 200,000 km, Kenya buys a wide range within its age limit, and about 90% of demand in the Democratic Republic of the Congo is for petrol models. Matching the specification to your market matters more than the Japanese price.

Looking for an Alphard, LM or Land Cruiser? Tell us the model, year range and destination. We check the auction sheet, the registration history and your country's age rules before we bid. Find my car

This article is general information. Prices and dealer policies change; figures are averages and specific cars vary with condition, grade and mileage.

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