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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.

Lexus LC Coupe and Convertible add a bevy of official TRD parts

TRD stands for Toyota Racing Development, but that doesn’t stop the performance division from developing parts for Lexus products, too. One of those Lexus products it just released a set of performance parts for is the LC 500. The two-door coupe is our favorite Lexus for sale right now because of its excellent driving dynamics and stunning looks, so adding more performance is a good thing, right? WeÂ’ll stop short of saying itÂ’s a great thing for appearances in this particular instance. The parts shown here tend to muss up and clutter the LC's otherwise gorgeous design. That large rear wing, aero cowling above the rear seats and aero mirror cover all notch the aggressiveness up a level, but it makes the styling look a bit messier in photos. TRD does claim real performance gains from the parts, though. The modified side skirts reduce the amount of wind flowing to the rear tires, which makes the car slipperier through the air — TRD also claims a benefit in fuel economy and reduced wind noise. There are three new wheel designs, all offering a reduction in weight over the stock wheels and an improvement in rigidity. The wheels pictured on the car are the Lunanium Gun Metallic option. TRD says the giant aero cowl reduces wind noise in the cabin for the LC Convertible, and the big rear wing improves vehicle stability. Other available parts include a front spoiler (adds downforce, lowers front clearance by 30 mm), rear diffuser (adds moderate downforce, says TRD), smaller rear spoiler (improves stability at speed), and a “performance damper.” Details are short on this damper, but we can assume itÂ’s slightly stiffer than stock and could offer a noticeable handling improvement. ThereÂ’s a 3-D mini configurator you can play around with on TRDÂ’s site, too. You can only choose between the exterior color, interior color and aero cowl cover, but itÂ’s worth it to see what the mods might look like on your particular LC. Interestingly, the aero cowl sitting above the rear seats can be had in either black or white. Availability of the parts in the U.S. is still unclear, but weÂ’re reaching out to TRD and will update with any news we might hear.  Related video:

Lexus CT 200h gets four changes for 2016

As Toyota rolls out its updated 2016 model range, it's clear that some refreshes are fresher than others. Whereas the 2016 Scion tC got breathed on, the 2016 Lexus CT 200h gets a mere glance, and only for a moment. Just four items differentiate the coming model from the one currently on sale, and three of those are optional: a chrome surround for the grille is standard; a moonroof, Lexus Enform Remote, and Lexus Service Connect are options. Lexus Enform Remote gives owners control of the car through an iOS or Android smartphone app so they can do things like unlock and lock the doors, remote start the engine, and locate the vehicle. Lexus Service Connect works through iOS or LexusDrivers.com site only and provides notes on vehicle health. Both services are by subscription. The CT 200h doesn't make a lot of headlines but it's a good performer for Lexus. It wins awards, it's the only luxury hybrid to get more than 40 miles per gallon, it's put up consistent sales numbers for the four years it's been on the market, and it's the brand's second-best-selling hybrid globally after the RX hybrid. We've already told you what's new, the press release below can tell you everything else you'd want to know. Related Video: 2016 Lexus CT 200h Offers Compact Attitude With Impressive MPG - 42 MPG EPA Estimated Combined Fuel Economy - F SPORT Package Delivers Sporty Performance - Peace of Mind with Lexus Enform Remote and Lexus Enform Service Connect July 24, 2015 - What do you get when Lexus melds a sporty luxury compact with an environmentally conscientious attitude? The 2016 CT 200h. With an EPA-estimated 42 MPG combined fuel economy the CT 200h is one of six hybrid models Lexus offers for 2016. Lexus has been the hybrid luxury leader since it introduced the first luxury hybrid more than 10 years ago. The CT 200h broke new ground for Lexus, introducing the brand to a younger generation of highly discerning customers. They, too, quickly discovered the refinement and driving pleasure that characterize the progressive luxury inherent in every Lexus. A sporty chassis keeps the CT 200h connected to the road's curves, and for 2016, the dashing look is enhanced with a chrome surround grille. Drivers can also now opt in for additional peace of mind with Lexus Enform Remote and Lexus Enform Service Connect. Lexus Enform Remote (subscription required), allows the owner to remotely view and control certain vehicle features using a mobile app for iOS and Android devices.