Toyotas are not considered expensive cars but they seem to have gained in value over time. RM Auctions sold a 1967 Toyota 2000 GT for nearly $1.2 million. It was one of the most expensive cars in a batch that included cars Ferraris, Porsches and one-off concept cars like a 1954 Chrysler GS-1 Special. The price is the highest any production Toyota has ever fetched. It has created another record of being the most expensive Asian production car ever. David Kinney, publisher of Hagerty’s Price Guide has confirmed the double record after doing his research. The auction took place just a couple of weeks ago and it seems that the new record will not be easy to break in the near future.
When First Introduced It Was More Expensive than Jaguar and Porsche
This new record is a huge improvement on $650,000 fetched by another 1967 2000 GT in March 2011. These cars were expensive even when they were produced. They were never cheap cars like many other Toyota models. When the 2000 GT was first introduced it carried a price tag of $7,230 which is equivalent to over $50,000 at current prices. It was more expensive than a Jaguar E-Type and Porsche 911 that sold at the time for $5,559 and $6,190 respectively. The 2000 GT was not meant for the masses and it was produced in small numbers. The Japanese carmakers have not confirmed the exact number but RM Auctions claim that only 351 units were produced by Toyota between 1967 and 1970. The limited numbers have made the model valuable and collectible.
2000 GT Helped Change the Image of Japanese Carmakers
The 2000 GT was considered a technically advanced car when it was first launched. The car had a dual overhead cam 2-liter in-line 6-cylinder engine. To keep it firing properly it was fed by three Solex 2-barrel carburetors. Capable of producing 150 horsepower at 7,000 rpm, it reached top speed of 135 miles per hour. Toyota had matched the powerful engine with a 5-speed manual overdrive transmission. The car could be called a milestone for the Japanese Auto industry. It showcased the competence of the Japanese car makers. It helped them change their image from the makers of stodgy family cars. It gave the Japanese auto makers the confidence that they can make beautiful and sporty cars.