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Lexus regrets not doing 3-row CUV before RC coupe [UPDATE]

UPDATE: The source clarifies that rather than planning new small cars and crossovers, Lexus intends to rely on the ones it already has in its lineup. The text below has been revised accordingly. Automakers try to give its dealers (and by extension, their customers) the vehicles they're asking for. In Lexus' case, that's come down to a sport coupe and a three-row crossover. The Japanese luxury automaker ended up prioritizing the former with the launch of the RC coupe, but in retrospect, it feels it should have gone with the seven-seater instead. This according to Toyota's North American chief Jim Lentz in speaking to Automotive News at its provisional headquarters in Plano, TX. "In hindsight, if I was making this decision 10 years ago, seeing what I see today, the three-row [crossover] probably would have been the better play to come out first," Lentz to AN. "Strategically that's a more important vehicle to have than necessarily a lower volume, higher priced image product." Crossovers and SUVs represent big business for Lexus, whose five-seat RX (pictured above) is its biggest seller. The more compact NX is off to a solid start as well, but the brand's only three-row offerings are truck-based sport-utes like the GX and LX. Even without the three-row crossover, however, Lexus has been performing admirably. Rising sales have it trailing only BMW and Mercedes in the US market for luxury automobiles. Adding a three-row crossover to target the likes of the Audi Q7 and Mercedes GL will evidently be the next top priority for Lexus, but it's not the only plan the luxury brand has for the near future. Lentz indicated that the company plans to rely on its lineup of near-luxury and entry-level luxury sedans and crossovers moving forward, but isn't interested in going after the Mercedes CLA and Audi A3. "Luxury cars cost a certain dollar amount for a reason," said Lentz. "I don't want to cheapen my cars just to offer a lease that's $20 a month less."

2021 Lexus GX 460 Interior Review | A competent cabin ... a decade ago

The Lexus GX 460 is really old. How old is it? It’s so old, I was still in high school when it launched. This generation of the GX launched for the 2010 model year, and it's mostly received cosmetic updates in the decade since. And few areas reveal that age more than this luxury SUV's interior. It's not all bad, but there's no question that it isn't exactly on par with the latest and greatest SUVs from other automakers. Or even its own. Let's dive in, shall we? Climbing aboard the GX welcomes the driver and front passenger with broad, thickly cushioned chairs wrapped in soft leather. They're very much the kind of seats you sit on and not in, and with a decent amount of adjustment, they're quite comfortable on a commute or on a cross-country trip. Also immediately noticeable is the high seating position and huge amount of glass offering superb visibility in all directions. Between this and the GX's modest exterior dimensions, it's quite easy to maneuver. Then we get to the dashboard, and this is where the GX becomes more of a letdown. Aside from the steering wheel, a slightly larger instrument screen with an updated infotainment operating system, nothing has changed in a decade. The prominence of the silver painted plastic is the most disappointing element, as it feels like it would barely be acceptable in a Toyota, let alone a current Lexus. The same goes for the blurry, easily washed-out center screen and pale blue digital clock and climate temperature readout. Wood trim and upholstered panels certainly help, but overall this doesn't look like the command center of a new SUV costing more than $50,000. Things get a little better when actually interacting with things. The volume and tuning knobs are weighty and smooth like on a nice hi-fi system. Having physical controls for the audio as well as most climate functions are welcome features. The touchscreen system is much more intuitive than the Remote Touch mouse and touchpad systems Lexus rolled out in later years. It's fairly responsive, and the shortcut buttons on the sides are useful. Another sign of age is the lack of Apple CarPlay and Android Auto. But hey, you get a CD player, remember those?  Buyers do still get a lot of nice features on the GX. Standard equipment includes heated and ventilated front seats, dual-zone automatic climate control, proximity locking and starting, a sunroof, and new for 2021, acoustic front side glass that makes the GX astoundingly quiet inside.

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.