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Thanks to smaller engines, vehicle dependability falls for first time in 16 years

As automakers have made engines smaller and smaller to improve fuel economy, problems in those vehicles have gotten bigger and bigger. That's the synopsis of a J.D. Power vehicle-dependability study, which found that dependability dropped for the first time in 16 years, largely because the proliferation of four-cylinder engines is causing the vehicles to be less reliable. Specifically, the number of problems per 100 vehicles (or what J.D. Power calls PP100) during the past 12 months for 2011 model-year vehicles rose six percent from the year-earlier figures for 2010 model-year cars. Singling out four-cylinder vehicles revealed about a 10-percent increase in problems during the past year. This issues largely related to engine hesitation, rough transmission shifting and lack of power, signaling the inability of vehicle makers to iron out some of the problems in their smaller engines as they strove for better fuel economy. Six- and five-cylinder engines proved far more reliable. Among car brands, BMW's Mini sub-brand came out as least reliable, with 185 problems per 100 vehicles during the past year. Toyota's Lexus badge was easily the most reliable, with just 68 problems per 100 vehicles. Coming in second place was Mercedes-Benz. The overall average was 133. Check out J.D. Power's press release below. J.D. Power Reports: Increased Engine and Transmission Problems Contribute to Decline in Vehicle Dependability for The First Time in More Than 15 Years General Motors Company Receives Eight Segment Awards, While Toyota Motor Corporation Garners Seven and Honda Motor Company Earns Six WESTLAKE VILLAGE, Calif.: o Owners of 3-year-old vehicles (2011 model year) report more problems than did owners of 3-year-old vehicles last year, according to the J.D. Power 2014 U.S. Vehicle Dependability StudySM (VDS) released today. The study, now in its 25th year, examines problems experienced during the past 12 months by original owners of 2011 model-year vehicles. Overall dependability is determined by the number of problems experienced per 100 vehicles (PP100), with a lower score reflecting higher quality. The study finds that overall vehicle dependability averages 133 PP100, a 6 percent increase in problems from 126 PP100 in 2013. This marks the first time since the 1998 study that the average number of problems has increased. "Until this year, we have seen a continual improvement in vehicle dependability," said David Sargent, vice president of global automotive at J.D.

2022 Lexus LS pricing up by a little and a lot

In October of last year, Lexus announced its 2022 LS lineup with a sprinkling of finespun tweaks. There were retuned spring and damper rates for a more comfortable ride, larger anti-roll bars, an "enhanced" adjustable-ride-height function to improve passenger ingress and egress, reshaped piston tops for quieter engine operation and updated transmission calibration for more motoring in the meat of the power band. Plus, Lexus Safety System+ 2.5 came standard on every model in the range, a traditional Japanese foil treatment called Haku was available for the Luxury and Executive Packages, and the swish, 23-speaker Mark Levinson audio could be be optioned on the entry-level LS for the first time. At the time, prices weren't changed from 2021. Now they have. The entry-level LS 500 starts at $77,175 after the $1,075 destination charge, a $100 bump. The LS 500 F Sport also climbs just $100, to $80,775. Sending power to the front axle on either trim requires another $3,250. The LS 500h AWD hybrid now starts at $113,075, which reflects two price increases. Lexus removed the rear-wheel drive LS 500h from the lineup, so getting into the electrified LS stratum costs $21,500 more than it did for the 2021 model year. But Lexus also added more standard equipment to the AWD hybrid and boosted the price of the 2022 LS 500h AWD by $18,025 compared to the 2021 LS 500h AWD. The flagship sedan now gets Lexus Teammate Level 2 autonomy capability with Advanced Drive and Advanced Park standard. Advanced Drive invests the executive transport with the power to execute maneuvers like acceleration and braking to follow other vehicles, change lanes, pass slower vehicles and get through certain intersections. Advanced Park does just that. The Luxury Package is also standard, its features costing at least $17,000 to add on the entry-level LS.  The non-hybrid LS will offer a nine-strong exterior color palette, some of them a $500 or $595 upcharge: Atomic Silver, Caviar, Eminent White Pearl, Iridium, Manganese Luster, Matador Red Mica, Nightfall Mica, Obsidian and Ultra White. Ultra White isn't available on the LS hybrid. The 2022 LS is expected to reach dealers in late spring.   Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.