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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.

Pony cars, trucks and Italian SUVs | Autoblog Podcast #552

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Associate Editor Reese Counts. We discuss the updated 2019 Chevy Camaro Turbo 1LE variant, the new 2019 GMC Sierra Denali, and the Ferrari-powered Maserati Levante GTS. We also debate whether Volkswagen should build the Atlas-based Tanoak pickup truck and what a delay means for the next-gen Ford Mustang. Finally, we answer a reader question about the state of Lexus.Autoblog Podcast #552 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2019 Chevy Camaro Turbo 1LE 2019 GMC Sierra 2019 Maserati Levante GTS Should Volkswagen build the Tanoak? Next-gen Ford Mustang delayed The past, present and future of Lexus Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Podcasts Chevrolet Ford GM GMC Lexus Maserati RAM Truck Coupe SUV Luxury Performance

Lexus teases 2022 LX 600 flagship SUV

Like so many things at the moment, the Lexus LX debut got pushed back, but it's nearly upon us. Toyota's luxury brand began the teaser campaign for the 2022 Lexus LX 600 today, in preparation for an online debut October 13 at 12:30 p.m. Eastern at the same time the vehicle is unveiled live in the United Arab Emirates and Saudi Arabia. We can glean a few things from the teaser, the first being the same Lexus design language we recently saw on the 2022 NX transferred to what will be the automaker's flagship SUV. That means an LED light bar connecting two hockey-stick taillamps above a spelled-out "LEXUS" instead of the Lexus logo. The chrome accents of the LX 570 are history, the rear license plate placed in an unadorned trapezoidal recess. The rear bumper is now nearly flush with the tailgate and loses its stanchions at the edges.    And then there's that LX 600 badge, officially signaling that numbers aren't about engine displacement. Depending on market, the LX is expected to get the twin-turbocharged 3.5-liter V6 that launched with the 300-Series Toyota Land Cruiser in June and puts out 409 horsepower and 479 pound-feet of torque in that model. Japanese outlet Creative Trend says this mill will eventually get hybrid assistance to create an LX 750h trim with 480 hp and 642 lb-ft. of total system output. The 3.3-liter diesel V6 with 305 hp and 516 lb-ft. could end up in places like Japan and Australia, and it's possible a base version with the naturally aspirated V6 finds its way to market.  Toyota said putting the new Land Cruiser on its TNGA-F platform saved about 440 pounds. We won't be surprised if the Lexus loses some weight as well, but we also expect a lot of new tech in the LX 600, and luxury is heavy. Features like the Multi-Terrain Select system and Multi-Terrain Monitor seem like shoo-ins, as does the 360-degree camera system. An option for fingerprint authentication to start the vehicle might bow as well. We'll know next week when the 2022 LX livestream kicks off. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.