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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.

Lexus hints at LF-SA concept bound for Geneva

Lexus has been moving steadily away from its once conservative designs with increasingly aggressive ones, and looks set to move the bar once again with this latest concept. Bearing the codename LF-SA, the new Lexus concept is set to debut in a couple of weeks at the Geneva Motor Show. But the Japanese luxury automaker isn't giving us much to go on from the decidedly enigmatic teaser image and brief statement below. According to Lexus, "the LF-SA Concept explores unexpected territories for the brand," which could come down to a new compact model to either replace or slot in below the CT 200h in the brand's lineup. The upright form would seem to be consistent with a city car. Beyond that, we can see an even larger evolution of Lexus' trademark spindle grille and checkmark accent lights. Whatever it is, though, Toyota's luxury division promises it will remain "a driver-focused vehicle." We'll just have to sit tight and wait to find out more, so watch this space. 17 Feb 2015 WORLD PREMIERE OF THE LEXUS LF-SA CONCEPT AT THE 2015 GENEVA MOTOR SHOW Lexus will reveal its all-new concept, the LF-SA at the 2015 Geneva Motor Show. Brussels, Belgium - An illustration of Lexus' passion for upcoming design trends, the LF-SA Concept explores unexpected territories for the brand in a bold and emotional execution. In a future world which many people see as increasingly influenced by technology and virtual experiences, the LF-SA Concept is also a driver-focused vehicle, reflecting Lexus' vision that real experience will remain ultimate luxury. The LF-SA Concept will be revealed at the Lexus Press Conference taking place on March 3, 2015 at 12:30 PM at the Lexus stand (number 4211) in Palexpo, Hall 4.

Lexus eschews production in China over quality concerns

One of the more popular trends in the auto industry is setting up production operations in China. Mainstream manufacturers like Ford, General Motors and Volkswagen have done it, and even luxury marques like Audi, BMW and Mercedes-Benz have or will soon have manufacturing ops in the People's Republic.
One company that isn't building cars in China, though, is Lexus. The Toyota-owned luxury brand still manufactures all of its vehicles in Japan (aside from a few RXs, which are built at a Toyota factory in Canada). According to Tokuo Fukuichi, Lexus just isn't ready to build cars there yet.
"The German Three have a brand image that they have cultivated over the past century in their long history, but Lexus is not in people's minds like that yet," Fukuichi-san told Reuters UK.