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Lexus in no hurry to be a big player in China

For a while now, China's spiraling wealth, population and development has had the world's luxury automakers in an expansionist fervor, with many executives exhibiting the sort of gleefully maniacal behavior historically reserved for gold-rush prospectors. Yet Toyota, of all companies, is exercising a surprising amount of caution in the Asian nation.
As The Wall Street Journal notes, Toyota's premium brand, Lexus, sold all of 64,000 vehicles in China last year, while BMW cleared its books of 326,000. In fact, it didn't even bother entering the market until 2005, while rival Audi built its first car in the market a decade and a half earlier. Even now, Lexus doesn't build any vehicles in China, and with the country's notoriously high tariffs on imports, that's a major disadvantage. Yet the business daily quotes Lexus executive vice president Mark Templin as saying that the brand is nowhere near ready to start building cars in the market. "We're not having those discussions about when we're going to go to China... We have a lot of work to do before we get to that point."
Part of that work includes establishing a more expansive dealer network - Lexus only had 99 stores as of 2012, while rival Mercedes-Benz had over two-and-a-half times as many, and it's still expanding. Adding a lot of dealers without having a goodly number of competitively priced offerings for them to sell may seem like an odd strategy, but Templin tells the WSJ that the goal is to "cultivate our image for quality and customer service and let the customers that we have go tell that story for us."

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.

2020 Lexus GS 350 F Sport Black Line Special Edition makes two cases for itself

The new 2020 Lexus GS 350 Black Line Special Edition brings a dark edge to the brand's mid-size luxury sedan. This offering follows in the tire tracks of the Black Line in the Lexus NX and IS ranges—the cosmetic package appeared first on the NX300, then the IS 300 F Sport, then the IS 350 F Sport over the past couple of years. The enhancements are available on the rear- and all-wheel-drive GS sedans, but will be offered only with two exterior colors, either Utlra White or Caviar, the latter being a rich dark brown. Visual changes outside include gloss black F Sport grille inserts, gloss black mirror caps, and a gloss-black decklid spoiler. The RWD version gets gloss black F Sport wheels with orange brake calipers, while the AWD model does without the flashy stoppers. Output of the 3.5-liter V6 doesn't change from 311 horsepower and 280 pound-feet of torque.  Inside, the black leather interior sees contrasting textures in Alcantara on the instrument panel, console, and armrest, and carbon fiber trim on the doors, instrument panel, and center console. Rioja Red panels provide contrast as does red stitching on the doors, steering wheel, seats, and center console. The special edition GS gets accessories as well: a two-piece Lexus Black Line Zero Halliburton luggage set. Starting with Zero Halliburton's Edge Lightweight Collection, the 22-inch Continental Carry-on and 26-inch Medium Travel Case feature linings embroidered with Intersect by Lexus spindle grille art, interior compression panels with a Lexus embossed leather logo badge, and chrome badges laser-etched with "Zero Halliburton for Lexus" outside. Naturally, they come in black. There will only be 200 of the special edition GS sedans produced, available starting this summer. Prices won't come until closer to the on-sale date, but the same package on the IS added about $5,000 to the price, and Zero Halliburton charges $1,000 for the luggage. With the rear-wheel-drive GS 350 F Sport starting at $53,785, we think $60,000 is a likely price tag.