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Toyota's car subscription service rewards you for safe driving

Toyota has teamed up with Sumitomo Mitsui Auto Service Company to launch a new car subscription service with gamification elements in Japan. The program is called Kinto, and it'll offer two tiers: the first, called Kinto One, will allow you to drive one Toyota vehicle over a three-year period for anywhere between $420 and $900 a month. When the tier becomes available on March 1st, you can choose from the available Prius, Corolla Sport, Alphard, Vellfire and Crown models. The other tier called Kinto Select will give you the power to drive one of the available Lexus-branded vehicles for $1,630 a month for three years. Now, what truly makes Kinto potentially more interesting than other leasing services is a rewards program that awards points based on how well you drive. Toyota didn't really expound on how it will work, other than saying that it will "award points to customers based on their vehicle usage (such as for safe or ecological driving)." As TechCrunch notes, the assumption is that the vehicle's in-car connected system will come with the ability to monitor your driving. Best thing about it is that the points you earn aren't useless rewards you can't even use: you'll be able to apply them toward payments. Kinto's Select option will be available starting on February 6th, almost a full month before the more affordable Kinto One launches. Both will be available via select dealers in Tokyo on a trial basis, and they won't officially roll out across Japan until summer. The points program won't be available until fall, when Kinto One's options will also expand. Unfortunately, there's no word on whether Kinto will eventually roll out in the US and other markets outside Toyota's home nation.For more information on Vehicle Subscription Services, check out the Complete Guide.Reporting by Mariella Moon for Engadget.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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 RX Luggage Test (2016-2022): How much cargo space?

This post has been updated from its original version to reflect new information provided by Lexus engineers. There's something seemingly funky going on with the Lexus RX spec sheet, or at least with the cargo capacity measuring method used to populate it with an official cubic-foot number. Basically, the specs say it has 16.0 cubic feet behind its raised back seat. That would be less than a Toyota C-HR, which is a notably cramped subcompact SUV. All you need are eyes to know something's fishy about that. Doing these luggage tests has revealed other car companies also report cargo capacity figures that sell their SUVs short relative competitors, but this is a new low, so to speak.  After a few back-and-forths with Lexus (and several months), plus a revealing glance at the extended length RX L's spec sheet, I came upon the answer: the 16.0 cubic-feet indicated is a measurement of the cargo floor to the cargo cover. The industry norm is cargo floor to the roof. Both numbers are provided for the RX L: 15.26 cubic-feet to the cargo cover and 23.03 to the roof. That's still not a lot for a midsize SUV, but assuming the regular RX is in the same numerical ballpark, it would make a lot more sense given how much stuff you can actually fit inside.  Speaking of which, let's see just how much stuff you can fit inside. It's definitely more than a C-HR. This is a wide, deep space. However, the current RX has a more radically raked roofline than its predecessors, which almost achieves a crossover coupe look. The result is less overall cargo space (and likely a less-than-stellar floor-to-ceiling cargo spec), but losing greenhouse usually effects versatility more. Basically, you can carry a comparable number of bags, but that 52-inch TV will be a tough get.  To begin, I left the cargo cover in place. As in every luggage test I do, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D). Fitting only the four biggest bags isn't great, but it's also the result of keeping the cargo cover in place (I do this to replicate a situation where you can't just leave it behind in your garage). It also pretty much confirms that 16.0-cubic-foot number.