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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 projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus NX rolls on wheels made of ice

To create this rolling ice sculpture, Lexus teamed up with London-based Hamilton Ice Sculptors, which fitted the compact luxury crossover with wheels and tires crafted from ice. The sub-zero craftsmen then deep-froze the entire vehicle, stored it at -22 degrees Fahrenheit, and drove it around London – pleasantly surprised to find that it started on the first try. As far as publicity stunts go, the finished product looks even cooler than the cardboard IS that Lexus had crafted a few months ago or the biometric glow-in-the-dark RC F from this past summer. The project took three months of research, design, and testing to carry out. The wheels replicate the alloys on the NX with millimetric precision, right down to the tread pattern, and each one took a team of four craftsmen 36 hours of work to complete. Of course, blocks of ice would have a hard time supporting the weight of the vehicle – especially while in motion – so the frozen wheels were reinforced with clear acrylic discs. And to make it all glow, they were also fitted with in-wheel LED lighting. This isn't the first time we've seen ice sculptors apply their skills to automobiles, following the frozen Canadian Tire pickup, Toyota Land Cruiser, Nissan Cube, and Saab Aero-X we've seen in recently years. But this one is at least as cool, in one sense or another. Scope out the results in the video above, and the process that went into their creation in the making-of video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LEXUS NX RIDES ON THE WORLD'S COOLEST WHEELS – CRAFTED IN SOLID ICE The concept of driving on ice has taken on a whole new meaning for Lexus, which has crafted the world's first set of working wheels and tyres made from frozen water. Brussels, Belgium - True to its mission of "creating amazing" and inspired by the craftsmanship that goes into every vehicle it makes, Lexus commissioned a team of ice sculpture specialists to explore how ice could be used in place of conventional alloy metal and rubber. After three months' research, design and testing, the finished wheels were fitted to a Lexus NX for the ultimate ice drive. The car itself was deep-frozen, stored for five days at -30°C (it started first time) before being driven off down a London road. The addition of in-wheel LED lighting added an extra dramatic dimension to the cutting-edge contemporary styling of the NX.