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Lexus RC media event in Japan canceled over lack of interest

It's a good thing senior editor Seyth Miersma doesn't live in Japan, or he wouldn't have been able to snap a photo like the one you see here, of a fresh-off-the-line Lexus RC F on hand at a first drive for media. That's because Toyota's Japanese arm has outright canceled its RC press launch. Sure, we've heard about events being delayed, but canceled? That's rare. Even worse is the reason: according to Automotive News, the event was nixed due to lack of interest. Wow.
In an email to media, Lexus said the event "has been canceled due to insufficient attendance," according to AN. The News posits that perhaps it would have just been better to hold the event anyway, in an attempt to save face, and that this is another example of the Japanese culture (especially youth) becoming less and less interested in cars. Of course, there's also the thought that local media just didn't want to drive out to Yokohama to drive the RC on a not-so-sexy press launch, which, if you ask us, is an incredibly lame excuse (do your jobs, folks!).
Either way, will this bode well for the Lexus RC's public launch? Will it receive the same lukewarm response when it arrives at Japanese dealers? We'll see.

Lexus LF-FC concept is a preview of the next LS [w/video]

As far as flagship luxury sedans go, the Lexus LS is one of the oldest on the market. But the upscale Japanese automaker is out to fix that in short order. And to give us a taste of what's to come, it's presenting the concept you see here at the Tokyo Motor Show today. Called the LF-FC, the show car clearly points the way forward for the next-generation LS. The design adopts the latest take on the brand's "L-finesse" styling language, with a large, spindle-shaped front grille leading to sharp creases cutting their way across the entire surface. Lexus refers to the roofline as approaching that of a four-door coupe, though it clearly places more of an emphasis on rear-seat space. Power comes from a conceptual hydrogen fuel cell whose components have been scattered throughout the vehicle to optimize weight distribution. The fuel cell drives the rear wheels and sends power to hub motors in the front wheels as well for all-wheel-drive capability. Those 21-inch rims are made of carbon fiber, with aluminum spokes, to minimize unsprung weight. Naturally, Lexus has equipped the concept with all the latest electronic aids to track the flow of traffic and even drive autonomously through it. Of course a vehicle like this is designed around the driver and occupants. The white and brown interior space features four individual bucket seats, because really, who wants to dream of riding in the middle? Interior appointments look suitably tasteful, all done in satin-finish wood and metal with white and brown leather, and would look at home on the next generation of first-class aircraft cabins. Lexus has equipped the concept with gesture control that incorporates a floating holographic image to show users where to place their hands to operate the audio and ventilation systems touchlessly. In typical concept style, the LF-FC sits wider and squatter than the production sedans at which it takes aim. More telling, however, is the overall length: at 208.7 inches, it's a few thumbs longer than even the extended version of the current Lexus LS, and a touch longer than the current long-wheelbase Mercedes S-Class, Audi A8, BMW 7 Series, Jaguar XJ, and Maserati Quattroporte. We're looking forward to seeing the production version in the form of the next LS in due course to see how it measures up against the competition, and not just in terms of size. Related Video: Lexus LF-FC Flagship Concept Revealed at the Tokyo Motor Show TOKYO (Oct.

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.