4Runner V8 depreciates more vs GX470 2yrs

4Runner V8 devalue more compared GX470 after 2 years. I am trying to compare both cars with realistic minimum options. I only have the 2003 wholesale prices since these models are only 2 years old.

I got the estimated invoice price from Edmunds.com and then added the following dealer markup:
$3,000 Lexus Dealer Markup
$1,000 Toyota Dealer Markup

GX470
$45,489 - 2005 Base Invoice w/ Mandatory 3rd Row + Destination + $3,000 Dealer Markup
- $38,414 - Manheim Wholesale Auction Average 2003 GX470 Price
= $7,075 - 2 Year Depreciation


4Runner V8 4WD Limited
$37,656 - 2005 Base Invoice w/ Mandatory Option Package A w/ 6 CD + Destination + 1,000 Dealer Markup
- $27,567 - Manheim Wholesale Auction Average 2003 4Runner V8 4WD Price
= $10,089 - 2 Year Depreciation

nyc1137038447.7473611111

are you surprised by this?