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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 comes to SEMA with a wine-dispensing crossover

While some manufacturers are going neck-deep into the tuner car world for SEMA this year, Lexus is keeping it classy with a restrained lineup of cars with lighter modifications. It made sure to hit all of them though, even the tiny UX subcompact crossover. Here's the rundown: 2019 Lexus RC 350 F Sport Cross Country Custom The idea on this one was to pick up a few different modifications from different shops as it's driven across the country. Along the route it's picked up some RS-R USA springs, Vossen forged wheels with Nitto performance tires, Apexi N1-X muffler, a satin wrap and blue underglow. There's not a whole lot to it now, but Lexus says there are still more modifications to come before it hits Los Angeles. 2019 Lexus UX 250h It's still a funky-looking crossover, but Lexus tried hard to make it stand out from the rest of the bland boxes on the road. The light blue wrap combined with an Apexi N1 suspension does the trick. These subcompact crossovers tend to look even more like hatchbacks once manufacturers lower them a couple inches — all that's left is to get rid of the unsightly black plastic cladding. This one has an Apexi N1 catback exhaust too. We can't imagine that sounds too hot with the CVT transmission in the UX though. 2019 Lexus ES 350 F Sport Wine lovers, here is the car for you. Lexus used the trunk area of this ES 350 to put a wine refrigerator, wine rack and glass holder. It did that, then made the flooring of the trunk out of oak barrel wood. To keep it upscale-feeling Lexus added a subtle Artisan Spirit aero kit and Rays Engineering 20-inch wheels. The Rolls-Royce Cullinan better watch out. 2018 Lexus LS F Sport The long Lexus looks a lot racier in this gray paint and 22-inch Work wheels. An aero kit brings it all closer to the ground without actually lowering it. Gigantic six-piston Brembo brakes in front and four-piston rears are painted in yellow, and look menacing within the big wheels. Related video:

Like sands through the hourglass, so is the 2014 Lexus GX

Well, that didn't take long. Just days after patent images leaked, Lexus has released pricing and images for its redesigned 2014 GX 460. Our first reaction is... wow, look at the front end on that! The updated luxury SUV features what Lexus calls "a new interpretation" of its now-trademark Spindle grille. The oversized hourglass shape is certainly unique, and whether for good or bad, it's sure to make the GX stand out.
The redesigned GX is set to hit dealerships in September and it starts at $49,085 - nearly $5,000 less than the 2013 model. Along with the new grille, it comes with standard LED headlights and daytime running lights. Inside, the GX boasts a new eight-inch touchscreen display with backup monitor, HD radio with complimentary weather and traffic data, Bluetooth and a vehicle information display. New espresso wood with black trim is also available for 2014.
Of course, the Luxury model, which starts at $60,715, adds even more frills, including navigation, a new Blind Spot Monitor with Rear Cross Traffic Alert, adaptive air suspension and Intuitive Parking Assist. Some of these features are also available on the base model with the addition of the new Premium Package, which Lexus touts "will be at the same price as the base 2013 model year GX 460."