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Lexus GXOR is a conceptual offering to the overlanding crowd

To the surprise of just about everyone, large numbers of overlanders have adopted the Lexus GX. The reasons for that are apparent after looking under the surface: Toyota reskinned the Land Cruiser Prado — a slightly smaller version of the venerable Land Cruiser, sold in overseas markets — to create the GX. The result is an intensely capable off-road platform decked out with a bouquet of luxury trimmings. In tribute to the GX's following, and as a way to celebrate the Toyota FJ Summit happening in Ouray, Colorado, right now, Lexus commissioned the GXOR concept. The initialism comes from the overlanding community, the "OR" standing for "offroad" on web sites and in photos and as a Twitter hashtag. This truck's so well equipped for trekking continents, however, that Lexus might have expanded the full meaning of GXOR to "Gone eXtremely Off Road."  The first move to up the rugged quotient is always wheels and tires. Lexus swapped the stock suspension for Icon Vehicle Dynamics shocks with remote reservoirs and a 2.5-inch lift, reinforcing the setup with billet control arms and delta joints. The wheels are 18-inch F-Sport units wrapped in 275/70 (33-inch) General Grabber X3s. When the inevitable hits come, CBI frame sliders and full underbody armor protect the chassis. When situations go all the way south, a Warn 9.5 XPS winch hides behind a custom CBI front bumper, Maxtrax recovery boards stand by on the Eezi-Awn K9 roof rack, and an Icom HAM radio is ready to call for recovery from locals or advice from an operator in Argentina. Other conveniences include a Safari snorkel, 50-inch Rigid light bar, and an Overland Solar 160-watt panel. The cargo area's been turned into a larder and closet thanks to the National Luna fridge/freezer combo sitting atop the Goose Gear custom drawers. Since it appears the GXOR driver might never wish to return, there's more storage in Alu-boxes up top, and a Patriot Campers X1H trailer provides close gear support. The Patriot's a home on wheels, starting at about $52,000 U.S., packed with features like a remote-controlled, electronically-deployed tent, a twin-burner stove, gas hot water system and 40-gallon tank, and more drawers. But because even that's not enough, Lexus fitted the trailer with matching F-Sport wheels and a Redarc Tow-Pro brake controller. If you're near Ouray, the GXOR will be on display and on the trails from now until Sunday, July 21.

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.

Toyota cuts production target by 300,000 vehicles due to parts and chips shortages

TOKYO - Toyota cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips. "It's a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact," Kazunari Kumakura, an executive at the world's biggest car maker, said after the company revised its production target. Unlike other big global automakers that were forced earlier to scale back production plans, Toyota had managed to avoid cuts to output because it had stockpiled key components along a supply chain hardened against disruption following northeast Japan's devastating earthquake in 2011. Toyota's announcement on Friday is a further sign that no part of the global car industry has escaped the affects of a pandemic that has sapped sales and is hobbling its ability to take advantage of the recovery in demand that followed the initial waves of COVID-19. Car sales in China in August fell by almost a fifth from a year earlier because there were fewer vehicles for people to buy. Toyota now expects to build 9 million vehicles in the year to March 31, rather than 9.3 million. It did not revise its 2.5 trillion yen ($22.7 billion) operating profit forecast for the business year. Adding to a 360,000-vehicle cut in worldwide production in September, Toyota said on Friday it will reduce output by a further 70,000 this month and by 330,000 in October. It hopes to make up some of that lost production before its year-end. Demand for chips has soared during the pandemic as consumer electronic companies rush to meet stay-at-home demand for their smartphones, tablets and other devices. A heavy reliance on Southeast Asian factories for parts is a headache for Toyota, but its also a problem for its rivals that have struggled with what Volkswagen has described as "very volatile and tight" chip supplies. The German carmaker has warned it may need to cut production further as a result. Ford last month shut down production at a plant in Kansas that builds its best-selling F-150 pick up because of parts supply woes, with Renault extending partial stoppages at factories in Spain. Mercedes this month said it expects chip shortages to significantly lower third quarter sales. (Reporting by Tim Kelly; Editing by Muralikumar Anantharaman and Kim Coghill) Plants/Manufacturing Lexus Toyota