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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.

Honda, Nissan, and Toyota expand Takata recall by millions worldwide

Honda, Nissan, and Toyota are expanding their global Takata airbag inflator recalls to cover millions of additional vehicles. Toyota alone is adding about 5 million vehicles to its campaign globally, and over 600,000 of those are in the US, according to Automotive News. Nissan's expansion includes an estimated 1.56 million cars worldwide, including about 326,000 in North America, but the exact models from the company are not yet known. According to Automotive News, Honda has also announced plans to increase the scope of its campaign but hasn't yet disclosed specific models, total numbers, or their location. Company spokesperson Chris Martin tells Autoblog that none of these vehicles are in the US, though. In the US, Toyota is replacing the driver's side front inflators on 160,000 examples of the 2004 and 2005 RAV4 nationwide. It's also swapping out the front passenger side parts for 177,000 units of the 2003 and 2004 Tundra (pictured above) and 2004 Sequoia. The automaker is also expanding its regional recalls in high-humidity areas to include the passenger-side inflators of 300,000 more vehicles. In total, the affected models are 2005-2007 model-year Corolla, Matrix, Sequoia, and Lexus SC; plus the 2005-2006 Tundra is included, as well. All of the states that are covered by this campaign are listed in Toyota's announcement, below. In a statement to Autoblog, Nissan said that it's currently working with the National Highway Traffic Safety Administration on this campaign. "We expect to have a more formal statement and additional information by Friday, May 15," the company said. TOYOTA EXPANDS TAKATA AIRBAG SAFETY RECALLS TORRANCE, Calif., May 12, 2015 – Toyota Motor Sales, U.S.A., Inc. today announced that it is expanding its recalls involving Takata air bag inflators. First, Toyota will conduct a recall to replace Takata-supplied driver front airbag inflators on approximately 160,000 model year 2004 and 2005 RAV4 sport utility vehicles. The inflators could potentially be susceptible to rupture when deployed in a crash, increasing the risk of injury to vehicle occupants. For similar reasons, Toyota will expand two existing recalls for Takata-supplied front passenger airbag inflators, namely: Toyota's nationwide recall launched in April 2013 will expand to include approximately an additional 177,000 model year 2003-2004 Tundra and model year 2004 Sequoia vehicles.

Lexus RC F and SI swimsuit model Lisalla Montenegro compare flowing lines

Lexus has been desperate to break out of its decidedly boring image for years. There is no doubt that it has made quality cars, but many of them have lacked for excitement. But with the new RC in 2014, especially the M4-fighting RC F version, it might finally turn some heads.
If the car doesn't turn heads, Lexus can at least be sure that Sports Illustrated swimsuit model Lisalla Montenegro will, in its latest video. Of course, phrases like, "Hair by over 383 pound-feet of torque," and, "Goosebumps by an aggressively tuned exhaust note," don't really mean anything, but most of the people watching the video aren't going to be reading the copy, anyway. Instead, they will either be focused on the attractive woman or the cool car. Maybe both. Scroll down to check out the video.