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Lexus planning second flagship alongside LS sedan

Lexus is planning to launch another flagship to slot alongside the LS sedan, but we don't know if it will be a coupe or a crossover. The coupe has been the persistent rumor. Lexus showed the two-door LF-LC concept in 2012 and a production model could borrow its underpinnings from the LS sedan. It's tipped to wear the letters LC or to revive the SC nameplate. The previous SC launched in 1991 as a fixed-roof coupe and offered inline-six or V8 engines. It was replaced in 2001 with the SC430 that had a V8 and a folding hardtop. While the coupe idea may seem like the leading candidate, the company's ambiguity is leading to speculation that the new flagship could adopt a different body-style altogether. "We need a flagship," Lexus general manager Jeff Bracken told Reuters. "It doesn't have to be a sedan." "In addition to the LS, there could be another flagship in our lineup," Bracken said. "We'll define what it is in January." The comments suggest something will be revealed at the Detroit auto show and could open the door to a new flagship SUV or crossover. That position is currently held by the LX 570, which is closely based on the Toyota Land Cruiser. However, sales of the LX have been less than stellar. From the 14,000-plus units Lexus sold of the original LX 470 when it launched in the US back in 2000, annual sales have dropped to just over 4,000 the last few years. Mercedes regularly sells over 25,000 of its GL-Class crossovers each year in the US alone. Last year Audi sold 18,000 Q7s here despite its imminent replacement. Land Rover sold nearly 13,000 Range Rovers last year and another 18,000 Range Rover Sports. Meanwhile, Cadillac typically sells between 20,000 and 30,000 Escalades every year, down from the 50,000-60,000 it sold a decade ago. A facelift is due for the LX that ought to spike sales a little, but Lexus will need more than a refresh to catch up with those rivals. In the meantime, it reportedly plans to roll out a three-row variant of the new RX before its lifespan is over. "We don't want to wait for a next generation" to give the RX the added seating capacity many customers are demanding, said Bracken. Related Video:

Mercedes, Infiniti, Lexus rank tops with mystery shoppers

If you want the best experience possible when buying a new car, then you'd better head down to your local Mercedes-Benz, Infiniti, or Lexus showroom. According a mystery shopper study conducted by the Pied Piper Prospect Satisfaction Index, those three luxury brands ranked highest among the 33 makes surveyed. The highest scoring mainstream brands included GMC, Hyundai, Kia, and Ford.
The study asked 5,203 mystery shoppers about the tactics used by salespeople during their most recent automotive purchases, and found a few interesting parallels along the way. For example, dealers at Infiniti, Land Rover, and Smart leaned heavily on vehicle walk-arounds with potential customers, while Jaguar, Volvo, and Audi were quick to point out exclusive features.
This study contrasts with a similar study conducted by JD Power in 2012. Its Sales Satisfaction Survey listed Mini as the top scorer, while Pied Piper's mystery shoppers ranked the BMW-owned brand below the industry average. Lexus scored highly on both surveys, as did Infiniti and GMC.

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.