2003 Lexus Gx470 Black 3rd Row Leather Value on 2040-cars

Auto blog

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 500 Aviation adds some aeronautic flair for 70 lucky owners (in Japan)

In our experience, there's a notable overlap between enthusiasts of fine automobiles and aviation. Lexus seems to think so too, which is why it is releasing a plane-themed version of its flagship sport coupe. The Lexus LC Aviation will come in both LC 500 and LC 500h form, and features an aeronautic-inspired centerpiece on the rear decklid. That would be a curved carbon fiber reinforced plastic (CFRP) spoiler that follows the trailing edge arc of the trunk, with two downturned winglets on either end. Lexus says the winglets are functional, generating a vertical vortex that smooths out the turbulence generated from airflow along the car's flanks. The result is improved yaw and steering response, comfort, and stability at high speed. The wing itself is made by craftsmen from the LFA project, which famously created and used a 3D carbon-fiber loom to weave parts of the V10 supercar's body. Part of the development was conducted with Yoshihide Muroya, an acrobatic pilot and winner of the 2017 Red Bull Air Race Championships. The rest of the package includes beautifully slim, black, 21-inch split-spoke wheels that you won't find on the standard LC. The trademark "spindle" grille has been blacked out as have the side vent moldings, and head and taillight garnish. The cabin comes in an exclusive color Lexus calls Aviation Black, while other tidbits, like an Alcantara steering wheel, shift knob and door trim, as well as saddle-colored highlights, finish off the cabin. There are no powertrain upgrades.  The only three colors are available are silver, white, and black. Alas, only 70 units will be produced for the Japanese market. It goes on sale Jan. 6, 2021.

1 in 7 Americans say they might buy an EV next, as sales of electrics surge

About one in seven driving Americans may likely purchase an electric vehicle as their next car, according to an AAA poll, meaning that as many as 30 million Americans may pony up for an EV within the next three to five years. While some of the motivation is environmental, survey recipients say that lower maintenance expenses and solo access to high-occupancy-vehicle lanes are also among the factors behind potentially going electric. Take a look at the AAA press release on the study here. The poll indicates that about as many people are planning to buy an EV for their next car as are looking to buy a pickup, which is impressive given that the best-selling US vehicle is the Ford F-150. And things should only improve, as about 20 percent of millennials polled said that their next car would probably be an EV. The results are all the more encouraging, at least among green-car advocates, because gas prices have fallen about 40 percent within the past five years, meaning that there's less of an incentive to go electric from a purely economic perspective. Through the first quarter of this year, US plug-in vehicle sales were up about 63 percent from a year earlier to about 39,000 vehicles. Meanwhile, when it came to AAA's annual green-vehicle awards for this year, Tesla's Model S and Model X took the large car and SUV categories, respectively, while the Chevrolet Bolt and Volkswagen e-Golf were listed atop the subcompact and compact lists. The Lexus GS 450h hybrid and the Ford F-150 took home AAA's best green vehicle in the midsize and pickup truck categories. Related Video: