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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.

Toyota will race C-HR CUV in 2016 Nurburgring 24 Hours

There won't just be traditional racecars competing in the 2016 Nurburgring 24 Hours; Toyota Gazoo Racing will take the bizarre route of prepping the C-HR crossover for the grueling event. The squad will enter more conventional machines, too, including a Lexus RC and RC F for the race that will run from May 26-29. Details about the C-HR Racing are scant at the moment. "We decided to take on the new challenge of creating ever-better cars using a crossover rather than a pure sports car," the company's announcement said. It makes no mention of the vehicle's specs, but the included photo show the CUV with a more aggressive front fascia, vents along the hood, and a big wing at the rear. The driver lineup includes Masahiko Kageyama, Kumi Sato, and another person to be announced later. Toyota will reportedly introduce the production version of the C-HR at the Geneva Motor Show, and the final one will allegedly carry over the current rakish shape and hybrid powertrain. The company also showed it with Scion badging at the 2015 LA Auto Show to suggest a likely arrival in the US. This year will mark a decade of Gazoo Racing's competition in the 24 Hours of the 'Ring. The squad notably raced the LFA there for several years, but it showed a willingness to bring weirder vehicles too like a Lexus CT 200h in 2011. Nothing has been quite as odd as racing a crossover there, though. Toyota GAZOO Racing Celebrates Decade of Participation in the 24 Hours of Nurburgring with Triple Entry for 2016 Race Toyota City, Japan, January 15, 2016-Toyota GAZOO Racing announces the entry of three vehicles-a Toyota C-HR Racing*, a Lexus RC, and a Lexus RC F-in the 44th 24 Hours of Nurburgring endurance race to be held in Germany from May 26 to 29, 2016. The 24 Hours of Nurburgring plays an important role in Toyota's motorsports activities for building ever-better human resources and vehicles under intense racing conditions. Beginning in 2007, the 2016 event marks the 10th year of Toyota's participation in the race under the banner of GAZOO racing. When asked to look back over the last ten years, team representative Akio Toyoda said, "I remember GAZOO Racing first taking on the challenge of the Nurburgring in 2007 in an Altezza like it was yesterday. There are so many memories running through my mind–the interaction with the roads of the Nurburgring, whose characteristics seem to change with each shift in the weather, the meeting and parting with new and valuable friends.

Junkyard Gem: 2002 Lexus GS 300

Toyota finally killed off the Lexus GS last year, after nearly 20 years of earning respect but not nearly as many yen as the Toyota City overlords had hoped. American car buyers came to prefer truck-shaped machinery during the production life of the GS, and those who wanted sedans didn't see the advantages of the rear-wheel-drive GS over the similarly-sized-but-cheaper ES. From 1993 through 2005, American Lexus shoppers could buy a new GS with the magnificent 2JZ straight-six engine, which achieved international gearhead immortality thanks to a certain movie franchise, and these cars have been very difficult for me to find during my junkyard travels. Here is a rare example of the final generation of 2JZ-equipped GS 300s, found in a Northern California boneyard last summer. V8 versions of the GS (the 400 and, later, 430) could be bought here, equipped with the bulletproof-but-heavy 1UZ/3UZ V8 engine out of the LS. Those cars were quicker and faster than the GS 300 but handled in more ponderous fashion. This engine was rated at 220 horsepower, but you could get scary multiples of that amount with the addition of aftermarket boost. In Japan, this car's Aristo counterpart got 276 horses out of its turbocharged 2JZ. No manual transmission could be had in the 2002 GS (nor in the JDM Aristo and its Crown cousin), but at least the enforced automatic came with five forward speeds. This car looked and felt like a smaller LS 430 inside, but the rear-wheel-drive layout made the rear seat space smaller than that of the Camry-based ES 300. Finding the keys in a new-ish junkyard car means that it was most likely an insurance total or dealership trade-in. Maybe someone will rescue that 2JZ before The Crusher eats it. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. As always with Toyota products, the Japanese-market ads were more dramatic than those from elsewhere. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The V8-equipped GS forces the BMW 540i to drive over a cliff, Wile E. Coyote-style.