UPDATE, 12:00pm, 01/04/21: Well done to our readers on uncovering the April Foolishness behind this one. The Suzuki Jimny won't be listed on the ASX, despite the big numbers being sought on the used-car market. The original story can be found below.
The 2021 Suzuki Jimny is set to be listed on the Australian Securities Exchange (ASX), allowing investors to trade the popularity of the small SUV on the futures market.
Suzuki Australia's Chief Investment Officer Alan Smithee made the announcement this morning, saying the move will strongly benefit Jimny investors: "We've seen unprecedented demand for the Suzuki Jimny since its release, pushing delivery times out until late 2021, as well as witnessing soaring second-hand prices.
"This new financial vehicle gives investors exposure without having to take delivery."
The Australian Securities and Investments Commission (ASIC) gave the green light for the Jimny to be listed in early March, with the ASX expected to provide a statement with its formal approval later today.
"It's a great opportunity for investors to get exposure to such a solid investment – particularly hedge funds, which have been crying out for the kinds of returns the Suzuki Jimny offers," Mr Smithee told media.
It's the first time a derivative has been created for a small four-wheel-drive, spawned by the used-car market demanding up to 50 per cent more than the manufacturer's list price.
Prices buoyed on the news, with early trading showing strength as investors pile into the small SUV.
It's expected Suzuki will follow in the same footsteps as the Toyota LandCruiser, which has been in backwardation for the past month as current 200 Series prices have far outpaced futures contracts for the 300 Series.
CarAdvice understands there will be a media conference held at midday today confirming key details.