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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 LF-C2 Concept teased ahead of LA Auto Show debut

Lexus is bringing an appropriate concept to the 2014 LA Auto Show in the form of the topless LF-C2 Concept you see teased above (click on the image to enlarge). We really don't have a lot information on this one as of yet, although we only have just over a week to wait.
We can, however, speculate. Does the LF-C2 preview a convertible LF-LC? Maybe. Could this show off a replacement for the IS Convertible, maybe modeled on a RC coupe with a folding-metal roof? That's also a pretty fair possibility.
Proving that social media reveals have well and truly jumped the shark, Lexus will release further teasers of the LF-C2 during a three-day social media campaign. That'll culminate with its LA Auto Show debut on November 19.

Lexus considering V8 Supercars racing program

Just a few years ago, Holden and Ford were the only manufacturers competing in Australia's V8 Supercars series. But those days were left long ago in a cloud of smoke on the track, and are only disappearing even further in the rearview mirror as the latest intel suggests Lexus could be ready to enter the series as well. Speaking with CarAdvice.com.au at the local launch of the RC coupe, Lexus Australia chief Sean Hanley revealed that his office approached the race organizers to hold "very high-level discussions" about the Japanese luxury brand entering the series. The development is reportedly spurred by the warm reception the RC has enjoyed so far Down Under, and by an expected impending shift in the rules of the V8 Supercars championship. The series has been rumored to be shifting away from strictly eight-cylinder sedans to include coupes and other engine types – a move that would open the door to more manufacturers to participate, including Lexus with the RC F. Currently the field is made up of Holden Commodores, Ford Falcons, Nissan Altimas, Volvo S60s and privately-entered Mercedes E63 AMGs. Nissan, Volvo and Mercedes only joined in the past couple of seasons following the last round of rules changes. The series received "international" status from the FIA in 2011and in the past few seasons has held races in locations as far flung as Abu Dhabi and Texas to its principally Australia-based calendar. Lexus, for its part, has competed in Grand-Am, Germany's Nurburgring-based VLN series and Japan's Super GT series, but unlike parent company Toyota, has yet to embark upon a top-level racing program in Formula One, the World Rally Championship or at Le Mans.