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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.

Refreshed 'exciting' Lexus ES takes a bow in Shanghai along with RX 200t

We were expecting a refresh and that's what we got. The 2016 Lexus ES, taken to "the next level of elegance and progressive luxury." A new front fascia design goes even bolder on the spindle grille, hiding the crossmember that separated the upper and lower sections, and rimming the whole thing with satin chrome. It's flanked by new LED projector headlights with the brand's pronounced "arrowhead" DRLs, and new triangular foglights laid into a matching sharp-edged motif. In back you'll find new taillights and chrome-tipped rectangular exhaust tips. In between those two ends, the body has been stiffened and gotten more sound-deadening material. The list of exterior hues grows to ten with the addition of Amber, Nightfall Mica, Caviar, and Eminent White Pearl. A new 20-spoke wheel joins the options list for non-hybrid models, whereas hybrids get a 10-spoke design. The cabin also broadens its tonal range in a variety of materials, with seats available in Flaxen, Parchment, Stratus Gray, and Black, and trim pieces in a choice of Illustrious Piano Black, Linear Dark Mocha Wood, Espresso Bird's Eye Maple with Shimamoku ornamentation, and matte Bamboo. Other touches include a new steering wheel, an embossed pattern on the seats, a leather boot for the gearshift, and a larger TFT display in the gauge cluster. Our engine options here won't change, but China, Russia, and Taiwan will be offered a 2.0-liter, direct-injected four-cylinder designed for China's emissions scheme. A new engine was also the news with the Lexus RX 200t rocking the dais at the Shanghai Motor Show, unveiled to the world next to its ES sibling. Available in certain international markets but not in the US, the RX 200t is powered by a 2.0-liter turbocharged four-cylinder working through a six-speed automatic transmission. Lexus hasn't released its official horsepower number, but says it's going for more than 228 horsepower; in the NX 200t it gets 235 horsepower 258 pound-feet of torque. You can check out the press release below for more details. Related Video: Refreshed 2016 Lexus ES Fuses Striking Design with Refinement and Safety at Shanghai International Motor Show Lexus RX 200t Also Makes Global Debut Active Safety Technology Integrated Into Lexus Safety System+ April 19, 2015 SHANGHAI, China (April 20, 2015) - As the best-selling sedan model in Lexus' impressive stable, the ES has come to define the very essence of near luxury sedan.

Lexus IS to get Deviant at SEMA

It's time to start gathering intel on SEMA, and it starts with this drawing of a modified 2014 Lexus IS. Lexus ran a competition on DeviantART, an online community for artists, to find a suitably modified IS that it could build and display at the temple of all things aftermarket in Las Vegas. The winner, as judged by a four-person panel from among more than 600 entries, is the IS rendered above by Rob Evans.
The winner looks like the beginning of a build for an IS entry into Japan's Super GT series, with a seriously exaggerated front spoiler and rear diffuser and fender flares that aren't just punched out, they're throwing 12-punch combinations.
Evans will have his car built by VIP Auto Salon and plastered all over Lexus materials promoting its presence at the show. Oh, and he gets an IS F-Sport for a year, among other prizes. Second place went to Lucia Lee, third place to Guangho Huang. A press release below has more on the competition and the winner.