After all the required regulatory addons (e.g. backup cameras, TPMS, seatbelt reminders, automatic e-braking), I wonder if these would end up more like $18-$20k

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Exactly, he can say it is safe and it probably is better than many older vehicles still daily driven. It doesn't meet the various requirements to be sold new in the US. If it did Toyota would sell it here because they know they would print money with it.

The problem is that US regulations for new vehicles make them expensive and complicated.