Toyota(US:TM) Guan Cha Zhe Wang·2025-11-17 10:40Core Insights - Toyota will extend the sales cycle of its flagship models from an average of 7 years to 9 years, utilizing software updates to maintain product value [1][3] - This shift represents a significant change in the automotive industry's business model, moving away from integrating new features solely in new vehicles [1] - Toyota will still make functional and aesthetic changes to key models while adopting a flexible pricing strategy for wholesale prices based on model and sales conditions [3] Group 1 - The average 9-year sales cycle for Toyota's flagship models is unprecedented, with previous cycles being around 5 years and gradually extending to 7 years [3] - The RAV4 is expected to undergo its first full model change in approximately 7 years, with a release planned for the fiscal year 2025 [3] - Toyota is currently facing a high volume of orders, leading to extended delivery times, which may result in owners having more opportunities to purchase popular models without significant depreciation [3] Group 2 - For models exclusively offered in China, Toyota will maintain development efficiency to adapt to local market conditions [4] - In comparison to other manufacturers, Honda typically changes models every 6-7 years, while Nissan may take nearly 10 years, whereas Tesla updates every 3-5 years and some Chinese manufacturers may do so annually [4]