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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 dumps RC F Super GT in favor of stunning LC 500 racer

Japan's Super GT series remains a favorite at the Autoblog office, because like British Touring Cars and Germany's DTM, the cars look vaguely like the ones you can actually buy, and the racing is close and intense. And next year, Japan's wildest racing will include the Lexus LC 500. Toyota and Gazoo Racing are phasing out the old RC F – which will continue racing here in the US GT3 ranks since it's barely a year old – in favor of Lexus' bigger, cushier two-door coupe. The racer depends on a 2.0-liter, turbocharged four-cylinder – just like every other car in the GT500 ranks – but unlike the 5.0-liter V8 or a 3.5-liter hybrid V6 in the LC 500s folks could actually buy. But let's ignore the mechanicals, because look at this monstrous racer. The LC is already the best looking car to wear Lexus' polarizing design language, but the aggressive cuts, angles, and oddly shaped headlights look great when paired with a Super GT car's aerodynamic appendages. Monstrous, flared wheel arches, a mammoth rear wing, and side skirts big enough to serve drinks on are just a few of the aero improvements for the LC 500 racer. Then, there's the really cool stuff, like the exhaust exit in the passenger side door. All cars should have side-exit exhausts in the door. According to Toyota and Gazoo's Google Translated website, the new LC 500 Super GT500 will campaign in the 2017 season. We can't wait to see it hit the track. Related Video:

Anything but boring | 2018 Lexus LC 500 First Drive

This is it, the headliner, the main event. After years of Lexus promising to make less-boring cars and instead giving us countless spindle-grille facelifts, the 2018 LC 500 is here as the brand's new North Star. It's the official halo to mark where Toyota's luxury brand is headed. This is the car that we hope can bring an end to the relentless mentions of boring cars - which are themselves needlessly boring. And besides, "not boring" is a terrible metric for evaluation. What Lexus is really trying to do is give its cars some spirit, to transcend the paint-by-numbers stereotype that made this brand the luxury juggernaut it is today. By that yardstick, the LC 500 is a success simply based on how it looks. It's beautiful in a way that we couldn't predict from the 2012 LF-LC concept that foreshadowed it. The kind of beauty where instead of reflexively grabbing your phone to take a picture, you just stand there and keep looking. And pictures don't do this car justice, anyway. They soften the edges and reduce the massive draw of the wide shoulders. In person, looking straight at the LC, the car looks like it's 80 percent hood. In the rest of the lineup, the trademark Lexus grille's execution ranges from caricature (RC) to botched nose job (LX). Here it pulls everything together. From every other angle, the LC has some feature that seems excessive – in the best way possible. The proportions of the LC give off a distinctively functional vibe, and it's genuine. That hood is so long because the 5.0-liter V8's center of mass sits three and a half inches behind the front axle. The extra space up front is mostly empty - Lexus uses high-strength steel cross-braces to shore up torsional rigidity instead of adding structure ahead of the front wheels, and the battery sits under the trunk floor. For all the visual excitement, the LC is still a conventional vehicle. Aside from some advancements in the LC 500h's hybrid powertain, the innovation here is of the iterative type. It's interesting, in that Lexus is betting on emotional appeal and driving character at a time when the future relevance of both is up for debate. If anything, the LC is a car for the current automotive world, not the one to come. And despite extensive use of aluminum and sheet-molded carbon, the LC 500 weighs in at a hefty 4,280 pounds. That's right in line with the BMW 6 Series and a good deal below the Batali-esque Mercedes-Benz S-Class Coupe's 4,700 pounds.