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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.

Andrew Gilleland is new VP of Scion, Murtha moves to Toyota

Scion is getting some fresh blood at the top as Andrew Gilleland (pictured above) becomes the new vice president to take over for Doug Murtha. Gilleland is no stranger to the division, and served as the national field operations manager early in the brand's launch. Murtha moves to take leadership of corporate strategy and planning for Toyota in North America. "Now it's Andrew's charge to spread the message of the style and value of the iM and iA, as well as a third new vehicle that will be added to the lineup," Toyota division group vice president Bill Fay said in the announcement. Gilleland moves up from being general manager of Toyota's central Atlantic regional office. He takes the reins at Scion at a potential turning point for the division. Sales volume for the year through August is down 22.1 percent to 32,691 vehicles, but some big changes are afoot. The long-lived xB is likely about to bow out, and the brand is launching two new products with the iM and iA. They're getting some celebrity advertising, too. Spy shots also suggest the FR-S might get a refresh soon. Plus, the third model Fay teases is expected to be a compact crossover, possibly with styling inspiration from the Toyota C-HR concept. Scion could get a big boost by having an entry in that booming segment. New Products, Previous Player - Scion Introduces New Vice President Andrew Gilleland Returns to Youth Brand September 24, 2015 TORRANCE, Calif. (Sept. 24, 2015) – In the early days of Scion, when xAs and xBs were flying out of dealers' showrooms, Andrew Gilleland was the National Field Operations Manager for the youth brand. He was responsible for working with dealers to ensure they embraced the new products and processes Scion offered. Now, Scion is entering its teen years, and Gilleland is back as Vice President of Scion, once again encouraging dealers to sell its new models and investigate new methods to attract young buyers. "Scion has sold nearly a million vehicles since I left in 2005 and I'm excited to be back leading this team," said Gilleland. "The iM 5-door hatchback and iA sports sedan arrived at dealerships earlier this month and the response has been great.

Toyota Crown celebrates 60 years

Toyota offers a robust lineup of cars in North America, but while the Crown may not be one of them, that wasn't always the case. And this year, the company's longest-running nameplate is marking its sixtieth anniversary. First introduced way back in 1955, the Crown was Toyota's first major export. It became the first Japanese passenger car to reach the US market when the first-generation Crown was launched here in 1958, and marked the company's arrival in Europe when the second-gen model arrived in Denmark in 1963. It started building the Crown in Australia in 1967 and in China more recently in 2005. The Crown is now on its fourteenth generation, and to mark its birthday, Toyota is launching the sedan for a limited time only in sky blue and bright green. Jan. 08, 2015 Toyota 'Crown' Turns 60 Sixty years ago this week, Toyota launched the "Crown", a luxury sedan that would go on to become the company's longest-running passenger-car nameplate and a significant vehicle in the history of the Japanese automobile industry. In 1958 the Crown became the first Japanese passenger car to be exported to the United States, and also started Toyota's passenger car exports to Africa in 1957 and Europe in 1962. Now in its 14th generation, its foremost models are the Crown Royal deluxe saloon and the Crown Athlete sports sedan, both with hybrid powertrain options. In Japan, Toyota is marking the anniversary with the introduction of limited-time-only sky blue and bright green exterior body colors. Toyota Crown Milestones January 1955 First generation launched April 1957 Exported to Ethiopia, Africa August 1958 Exported to the United States October 1962 Second generation launched December 1963 Exported to Denmark, Europe February 1965 Exported to Canada February 1967 Assembly begins in Australia September 1967 Third generation launched February 1971 Fourth generation launched October 1974 Fifth generation launched September 1979 Sixth generation launched August 1983 Seventh generation launched September 1987 Eighth generation launched October 1991 Ninth generation launched December 1995 10th generation launched October 2001 11th generation launched December 2003 12th generation launched March 2005 Production begins in China February 2008 13th generation launched December 2012 14th generation launched