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Toyota launches updated Verso-S in Europe

Globally, the Toyota Yaris has bred more variants than we can shake a stick at. It's been known in different markets as the Vitz, the Platz, the Bella, the Vios and, to us, as the Echo. The first-generation model bred a small cargo van called the Yaris Verso - a mini minivan riding on the shortest wheelbase in its class - which was renamed the Verso-S for Europe and alternatively known as the Space Verso, the Ractis, the Ractis Verso and even the Subaru Trezia in certain markets. And now Toyota has launched a revised version of its Verso-S in Europe.
Arriving as a mid-life facelift after three years on the market, the new Toyota Verso-S has been reinterpreted through the "Keen Look" design language that's been distinguishing the latest generation of Toyotas, particularly in the European market. That means new projector-beam headlights and LED daytime running lights, a reshaped grille with chrome surround, more LEDs around back, a fresh set of 16-inch alloys and new color options.
The interior has likewise been spruced up with new trim and color choices, as well as a tire pressure monitor fitted as standard. There's a new touchscreen display with more connectivity options, upgraded nav and a rearview camera as well. Since Toyota's made no mention of engine upgrades, until we hear back, we have to assume the 1.3-liter inline-four and 1.4-liter diesel engines carry over unchanged with the buyer's choice of either a six-speed manual or continuously variable transmission.

Toyota expands airbag recall to 2.27M vehicles worldwide

Was your Toyota inspected under the company's recall campaign for faulty airbag inflators last year? You might have another trip ahead to have it repaired again. The automotive giant says that it found "the involved serial numbers provided by the supplier were incomplete, and did not include all of the potentially involved inflators," according to its official announcement. That means more replacements are needed.
Toyota's April 2013 inflator recall covered the Corolla, Matrix and Tundra from the 2003 and 2004 model years, the Sequoia from 2002 to 2004 and the Lexus SC 430 from 2002 to 2004. At the time, the company said it would need to inspect about 510,000 vehicles in the US but only expected to replace around 170,000 inflators.
However, the latest announcement increases that figure to about 766,300 vehicles in the US. Toyota spokesperson Cindy Knight told Autoblog that the new amount is the combination of owners who need to have their vehicle looked at again and those who didn't come in for the initial recall. The company learned about the problem when Takata, the supplier, provided it with an improved list of the faulty part's serial numbers. According to The Detroit News, the latest recall affects about 2.27 million vehicles from them worldwide. Knight said owners would receive notification of the problem around the end of the month but repairs would come in phases because the automaker doesn't have all of the necessary parts at the moment.

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.