1987 Toyota Land Cruiser Fj 60 Base Sport Utility 4-door 4.2l on 2040-cars

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Akio Toyoda pledges return to WRC in 2017 with a Yaris

There have been rumors of Toyota returning to the World Rally Championship since the end of 2013, and a Yaris prepped by Toyota Motorsport in Germany has been caught on The Continent several times last year in testing. Akio Toyoda visited Rally Finland while we were there with Hyundai to watch a race up close, and he said that the passion people still had for Toyota's past exploits encouraged him. He finally answered the question about when they planned to enter the series, announcing in Tokyo that they'd line up for the season in 2017. The Japanese company, a legend in rallying, got into the sport in 1979 and left in 1999 after winning seven titles in ten years through the nineties with Carlos Sainz and Juha Kankkunen. The 2017 return is likely due to the regulation changes that year to allow more power than the roughly 300-horsepower in today's challengers and the switch to a fuel-flow formula to let manufacturers use different kinds of engines. Toyota has been sitting in on the WRC rules meetings, and the final slate of changes will be announced at the end of this year. The Yaris that's been testing is powered by a 1.6-liter, four-cylinder that meets current regulations, but we can expect it to change somewhat before it's race-ready. TMG will test the car for the next two years, then it will go up against fellow manufacturers Volkswagen, Hyundai, and Citroen, as well as Fords run by M-Sport. There's video of the Yaris running solo through the Belgian countryside above, and a gallery of the coming car below.

Ex-Toyota Bill Reinert still in favor of hybrids, against EVs

Former Toyota executive Bill Reinert is so unsold on electric vehicles as a viable advanced-powertrain option for future transportation that he has praised – gasp – Ford, for its downsized internal combustion engines. Reinert was a key player in developing Toyota's original Prius hybrid and, in an interview published in Yale University's Environment 360 blog, said a hybrid that gets 60 miles per gallon is superior to an electric vehicle. "And that is why you will be seeing more fuel cells in the future." – Bill Reinert Reinert went on to praise the advances that automakers have made in improving fuel economy of fossil fuel vehicles, specifically namechecking Ford and its three-cylinder Ecoboost engine. He also has good things to say about both hydrogen fuel-cell electric technology as well as natural gas vehicles, but admits that limited fueling infrastructure will keep those types of vehicles in the margins for the near future. He also says that hydrogen vehicles aren't that great yet but that, "When most [manufacturers] investigate the two technologies [H2 and EVs], they see that FVCs offer more room for performance improvement and cost reduction potential. And that is why you will be seeing more fuel cells in the future." As far as pure electric, Reinert says lithium-ion batteries have "tremendous shortcomings" and talks about battery degradation, substandard performance in hot weather and, of course, limited single-charge driving range. He also says that people need to factor in the environmental impact of producing electricity for the grid to fully gauge how environmentally beneficial EVs can be. We'd like to take him and Tesla Motors Chief Elon Musk to what we think would be a spirited lunch. You can read the whole interview with Reinert here.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.