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BMW tops Consumer Reports 2023 Brand Report Card

Feels like we wrote about Consumer Reports' 2022 Brand Report Car and 10 Top Picks a few weeks ago, but it was last April. So the mag is back with a ranked roster of 32 brands and 10 vehicles in four categories for your debating pleasure. Starting with the brands, last year's top three were Subaru, Mazda and BMW. This year, the Munich crew climbed two spots to win the prize thanks to "Superb road test scores and solid results in CR’s reliability and owner satisfaction surveys." Subaru narrowly fell to second, maintaining its four-year run in the top three. Mini, eighth last year, jumped five spots to get the last step on the podium. The rest of the top 10 were Lexus (up one spot from last year), Honda (down one spot from last year), Toyota (up three), Genesis (up 12), Mazda (down six), Audi (down three) and Kia (up eight). The magazine and testing outfit says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CRÂ’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." Last year's top 10 had six automakers from Japan, three from Germany (giving Mini credit for England), none from the U.S. or South Korea, and five luxury brands. This year's list counts five makes from Japan, two from Germany because Porsche fell out of the top ten, two from South Korea, still none from the U.S., and four luxury brands. Buick again ranked as the best domestic, dropping to 12th after being 11th last year. The big mover was Lincoln, its 10-place jump up to 16th attributed to better reliability from the Corsair and Nautilus. Tesla's improved overall reliability saw it climb six spots to 17th. Dodge climbed one spot to 15th. Jeep got out of the penalty box in last to come second-to-last. Land Rover fell three places into the penalty spot.  CR's top 10 vehicle models The 10 Top Picks list is practically a new list. Only two holdovers made it to 2023, those being the Subaru Forester and Kia Telluride.

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.

Lexus RC F GT3 will compete in IMSA SportsCar Championship

Lexus will field its new RC F GT3 in the GT Daytona class of the IMSA SportsCar Championship. GTD is the lowest of the four classes of which the series is comprised, equivalent to the FIA's GT3 class. The team is owned by Trans-Am champion Paul Gentilozzi and his partners, and it's based out of East Lansing, MI. It will contest only a handful of races this season, though the schedule was not announced. The plan is to expand into a "multi-car effort" for 2017. Driving duties will be shared by the previously announced Scott Pruett and the newly signed Sage Karam. Both drivers were recently released from their contracts with Chip Ganassi Racing, for which Pruett drove in NASCAR and Karam in the IndyCar Series. He won the Indy Lights title in 2013 and impressed with a third-place finish last year in Iowa. This year's IMSA SportsCar calendar kicked off this weekend at Daytona, and will head next to Sebring in mid-March, Long Beach in mid-April, Laguna Seca in early May, and Detroit in early June. July will see races at Watkins Glen, Mosport, and Lime Rock, followed by rounds at Road America and VIR in August. The seasons concludes at Austin in September and Road Atlanta at the beginning of October. LEXUS TO COMPETE IN IMSA WEATHERTECH SPORTSCAR CHAMPIONSHIP AND F PERFORMANCE RACING ANNOUNCES SAGE KARAM AS DRIVER TORRANCE, Calif., Jan. 29, 2016 -- Lexus and their F Performance Racing group have reached an agreement with the International Motor Sports Association to campaign the RC F GT3 in the IMSA Weather Tech SportsCar Championship. The agreement gives the Japanese Luxury automaker a presence in the GT Daytona (GTD) class race series through the 2018 season. "We are excited to reach this agreement with IMSA to campaign the RC F GT3 at such a high level. Our hope is to build a strong foundation for the new F Performance Racing organization during 2016 season, seizing the opportunity to develop the team and the race vehicle in anticipation of the multi-car effort during the 2017 season," said Jeff Bracken Group Vice President and General Manager, Lexus division. Additionally, F Performance Racing also announced that Sage Karam will join veteran racer Scott Pruett as drivers for F Performance Racing when the East Lansing, Michigan-based team campaigns the Lexus RC F GT3 for a limited schedule in the 2016 WeatherTech SportsCar Championship. "We have had our eye on Sage for some time," said Paul Gentilozzi, Managing Partner of F Performance Racing.