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Lexus apologizes for anti-EV ad, Plug In America calls it 'outdated'

Anyone who's spent any time learning about the alternatives to the standard fossil fuel-burning internal combustion engine knows that there are arguments to be made for and against all of the main options. They also know that there is barely any refueling infrastructure for hydrogen fuel cell cars in the US, aside form a handful of H2 stations in California and one in South Carolina. Somehow, though Lexus, recently said there was an "established infrastructure" in 20 states in an online video ad on the company's official site. Another part of that site also made unfair negative comments about battery-powered electric vehicles, saying that it takes too long to charge the cars. Read our original post on the matter here. In the ongoing discussion about how the US moves away from inefficient gas and diesel engines, this was seen as a real muck up of the facts. Upon seeing the videos, pro-electric vehicle group Plug In America released a statement to AutoblogGreen (Lexus is owned by Toyota): Hey, Toyota, the 1990s called. They want their outdated anti-EV attack ad back. Plug-in electric vehicles charge while you're sleeping at home, far more convenient than making a trip to a gas station and coming away smelling like carcinogens. Driving on electricity costs about one fifth what it costs to drive the average gas car and about a third what it costs to drive the most efficient hybrid. An electric drive has smooth, instant acceleration which can't be matched by any gasoline engine. If you don't believe me, just ask anyone driving a Toyota RAV4 EV. The videos were produced by Team One, Lexus' ad agency. Exactly where the information came from and how it made it to the website is unclear, but Lexus spokesman Moe Durand said that Lexus apologizes for offending anyone and has taken the incorrect videos down. The company will review all the materials and alter and adjust the campaign as necessary, he said.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

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.