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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 Lexus LX 570 gets an Inspiration Series run of 500 units

The 2021 Lexus LX 570 will haul its 13-year-old bones into the 2021 model year with the enticements of the Sport Package, along with an Inspiration Series model produced in a run of 500 examples. New features and options for 2021 are Amazon Alexa capability, Nori Green exterior paint, and interior leather colored Glazed Caramel. The Sport Package dials up bodykit add-ons for the front and rear fascias, a sport grille, body-colored side mirrors with chrome accents, and forged 21-inch wheels outside. A black headliner inside broods over semi-aniline leather trim offset with leather in black, Cabernet, or that new Glazed Caramel hue.  The LX Inspiration Series can be had in either Black Onyx or the $425 White Pearl exterior. Outside, it goes heavy on the sinister. A black grille features a black chrome surround, there are black headlamps and taillights with smoked lenses to go with black fog lamps, black trim around the windows and black chrome garnish elsewhere, black roof rails and door handles, and black badges on the back of tailgate. The rolling stock is a set of 21-inch black wheels with black center caps. The limited-edition spent all its fun money on the exterior, the interior left with unique floor and cargo mats, and unique key gloves.  All models come with the Lexus Safety System+ that groups features like Blind Spot Monitor with Rear Cross-Traffic Alert, Panoramic View Monitor, Multi-Terrain Monitor, and Intuitive Parking Assist. The engine bay retains its 5.7-liter V8 throwing 383 horsepower and 403 pound-feet of torque, shifting through an eight-speed automatic and sending power to all four wheels through a Torsen limited-slip differential. If an LX 570 ever sees an unpaved road, it will have nothing to fear, equipped standard with its Crawl Control system that comes with Turn Assist and Hill-start Assist Control. On sale as of now, prices on the two-row, five-seat LX 570 and the three-row, seven-seat model have gone up by $100. The two-row starts at $86,580 and gets a $1,025 destination charge, totaling $87,605. The three-row starts at $91,580 and gets a $1,295 destination charge, so it starts at $92,875. Lexus didn't mention pricing for the Sport Package or the Inspiration model, both of which are exclusive to the three-row, and they're not on the Lexus configurator as of writing, so speak to your dealer about those if they speak to you. Related Video:    

Mercedes, Infiniti, Lexus rank tops with mystery shoppers

If you want the best experience possible when buying a new car, then you'd better head down to your local Mercedes-Benz, Infiniti, or Lexus showroom. According a mystery shopper study conducted by the Pied Piper Prospect Satisfaction Index, those three luxury brands ranked highest among the 33 makes surveyed. The highest scoring mainstream brands included GMC, Hyundai, Kia, and Ford.
The study asked 5,203 mystery shoppers about the tactics used by salespeople during their most recent automotive purchases, and found a few interesting parallels along the way. For example, dealers at Infiniti, Land Rover, and Smart leaned heavily on vehicle walk-arounds with potential customers, while Jaguar, Volvo, and Audi were quick to point out exclusive features.
This study contrasts with a similar study conducted by JD Power in 2012. Its Sales Satisfaction Survey listed Mini as the top scorer, while Pied Piper's mystery shoppers ranked the BMW-owned brand below the industry average. Lexus scored highly on both surveys, as did Infiniti and GMC.