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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.

2021 BMW M3 and M4 vs all the high-powered sport sedans and coupes

Should you have a found a way to get past that schnoz, you've probably digested some of the basic specs for the all-new 2021 BMW M3 sedan and M4 coupe specs. They're plenty impressive. There's also, basically, two sets of them thanks to the regular and Competition versions that differ in engine output and transmission type.  But how do they compare to other ultra sport sedans and coupes? Well, we were wondering that too, so we fired up the Autoblog Comparison Spreadsheet Generator 5000 (aka me chained to my computer in a dark basement).  Sadly, there are surprisingly few competitors for the 2021 BMW M3. Rival sedans include the Mercedes-AMG C 63 and the Alfa Romeo Giulia Quadrifoglio, along with the Audi RS 5 Sportback sedan/coupe/hatchback thing. There's no more Lexus IS F, the Cadillac CT4 Blackwing has yet to arrive and Jaguar doesn't offer a spicy XE R.  Happily, there are more coupe rivals for the 2021 BMW M4, including the two-door versions of the AMG and Audi as well as the Lexus RC F. I also included the Ford Shelby GT350 and Chevrolet Camaro SS 1LE. On paper, they align incredibly well. On the street and on a track, I can personally attest that these Americans are fully capable of keeping up and/or bettering the fancy-pants luxury brands (and let's not forget there are even more powerful, hardcore versions available). If they don't align in terms of price or prestige, whatever. OK, let's get to the spreadsheet. Let's start with the coupes and note that I didn't bother listing the dimensions for the M4 Competition and C 63 S as they are identical to their "lesser" siblings.  I won't bother burning words explaining what you can see on the chart. Instead, I'll point out a few things that stood out to me. First, BMW M comes awfully close to matching the output of AMG's twin-turbo V8 despite having two fewer cylinders. Similarly, Audi manages to better the 0-60 time of the M4 Competition and tie the C 63 S despite being WAY down on power. It's not like it weighs less. Magic? Second, and speaking of 0-60 times, remember the importance that transmission and drivetrain make with them. It's not just horsepower and torque. An automatic will be quicker and easier to launch than a manual, while all-wheel drive provides more instantaneous and beneficial grip.

Lexus rounds out the LS line with 500h hybrid

The 2018 Lexus LS range will feature a full hybrid LS 500h version, which will be presented to the public at the Geneva Motor Show in March. The LS 500h is expected to use a 3.5-liter naturally aspirated V6, also seen in the LC 500h coupe. The platform sibling LC 500 coupe does have an available V8 version in its non-hybrid guise, but perhaps Lexus has seen fit to equip only the sportier coupe with an eight-cylinder – a major deviation from the previous V8-only LS series bloodline. The earlier LS 600h was the first production full hybrid vehicle with a V8 engine, producing 439 horsepower; since the LC 500h's hybrid powertrain only produces 354 hp, the earlier car is likely to remain the horsepower king. The coupe still hits 60 mph under five seconds, so the big sedan should also be able to move briskly. Almost 30 years have passed since Toyota unveiled its Lexus luxury brand and the LS 400 flagship, as the UCF10 body LS 400's design was locked in spring 1987 and the wraps came off in January 1989. The LS 400 of those days was often deservedly revered, and in the following decades it has spawned numerous new generations of high-end Lexus LS sedans. But in case the latter-day LS models have become just a touch too Camry- or Avalon-like, the 2018 version should bring a new edge. Related Video: News Source: LexusImage Credit: Lexus Green Geneva Motor Show Lexus Hybrid Luxury lexus ls