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Scion was slain by Toyota, not the Great Recession

Scion didn't have to go down like this. Through the magic of hindsight and hubris, it's easier to see what went wrong. And what might have been. What the industry should understand is this: Scion wasn't a losing proposition from the get-go. Its death is due to negligence and apathy. This is more than just the failure of a sub-brand. It's the failure of a company to deliver new and compelling products over an extended period of time. Toyota will point to the Great Recession as the reason it hedged its bets and withdrew funding for new vehicles, instead of using that as an opportunity to redouble efforts. This was as good as a death warrant, although myopically no one realized it at the time. Sadly, GM's Saturn experiment was a road map for this exact form of failure. No one at Toyota seemed to think the Saturn experience was worth protecting their experimental brand from. Or they weren't heard. Brands live and die on product. Somehow, Scion convinced itself that its real success metric was a youthful demographic of buyers. It seems like this was used to gauge the overall health of the brand. Look at the aging and uncompetitive tC, which Scion proudly noted had a 29-year-old average buyer. That fails to take into account its lack of curb appeal and flagging sales. Who cares if the declining number of people buying your cars are younger? Toyota is going to kill the tC thirteen years [And two indifferent generations ... - Ed.] after it was introduced. In that time, Honda has come out with three entirely new generations of the Civic. Scion wasn't a losing proposition from the get-go. Its death is due to negligence and apathy. At launch, the brand could have gone a few different ways. The xB was plucky, interesting, and useful – a tough mix of ephemeral characteristics – but the xA didn't offer much except a thin veneer of self-consciously applied attitude. That's ok; it was cute. Enter the tC, which managed to combine sporty pretensions with decent cost. It took on the Civic Coupe in the contest for coolness, and usually managed to win. More importantly, an explicit brand value early on was a desire to avoid second generations of any of its models, promising a continually evolving and fresh lineup. At this point, the road splits. Down one lane lies the Scion that could have been. After a short but reasonable product lifecycle, it would have renewed the entire lineup.

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.

Construction of Lexus' first US assembly line underway

The ES is Lexus' top-selling sedan, but the Japanese luxury marque has never manufactured it outside of Japan. In fact, Lexus has never made any cars in the United States, one of its largest markets worldwide. But that's about to change.
Yesterday, construction began in Georgetown, Kentucky, on the first Lexus assembly line in America, the first concrete (or steel) step in a $360-million expansion of Toyota's plant in the Bluegrass state that will create 750 new jobs. The expansion was announced last April by chief executive Akio Toyoda at the New York Auto Show.
Once the new assembly line gets online in the fall of next year, Toyota plans on building some 50,000 units of the ES each year. Lexus sold a record 72,581 examples of the ES in the United States last year - 30 percent more than the previous year - so Lexus will either have to import some more from overseas or leave some buyers disappointed.