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Toyota recalling 1.67 million vehicles worldwide in 3 campaigns

Toyota is issuing three separate recalls covering 1.67 million vehicles worldwide with most of those models in Japan. It looks like the campaigns' impact on the US may be smaller, though. According to Reuters, Toyota isn't aware of any accidents, injuries or fatalities affecting the models. Some yet-unnamed Lexus models might also be affected.
The largest of the campaigns does not currently affect any US-market vehicles. About 802,000 units of the Toyota Crown Majesta, Crown, Noah and Voxy in Japan are being repaired to replace a seal that could leak in the brake master cylinder. Those already leaking get a new brake booster, as well, according to Reuters.
The only recall currently believed to affect the US is due to a problem covering approximately 759,000 vehicles with 423,000 of them here. The repair is to fix a faulty fuel delivery pipe that could cause a fire if the fuel leaks out. Unfortunately, we don't know which models it covers. Autoblog spoke to Toyota spokesperson Mona Richard and was told the information was still "under embargo." When exactly that embargo will lift isn't yet known, but we're on the case.

Lexus takes to Pikes Peak in RC F GT Concept

Lexus is gearing up to take on Pikes Peak with the RC F GT Concept you see here, developing the new racing prototype for the venerable hillclimb event. Different from the more extreme GT3 and GT500 racing concepts we've seen to date, the new GT concept is more closely based the road-going RC F. Only it's leaner and meaner and ready to take on the grueling 12.4-mile race to the clouds and all its 156 turns. The RC F GT packs the same 5.0-liter V8 and eight-speed automatic transmission as the production model. The major difference is that it weighs some 800 pounds less, thanks largely to the widespread use of carbon fiber body panels and polycarbonate windows. It also incorporates a more aggressive aero kit and rolling stock, and allows the technicians to tune the engine for competition applications. To tackle the Peak, Lexus is handing the keys over to none other than Justin Bell, the former GT2 class winner of the 24 Hours of Le Mans and the FIA GT Championship. He'll be fielding the RC F GT in the Time Attack class for production-based vehicles, while providing Lexus engineers with valuable performance data and the chance to develop components for future applications. Two years ago, the IS F CCS-R prototype competed in the same event, and served as a test bed to develop the powertrain that went into the RC F that followed. Related Video: LEXUS TO COMPETE IN 2015 PIKES PEAK INTERNATIONAL HILL CLIMB WITH ALL-NEW RC F GT CONCEPT - V8 Powered, Production Car-based Coupe to be Driven by Justin Bell - RC F GT Program to Serve as Key Developmental Tool for F brand Engineering June 22, 2015 TORRANCE, Calif. (June 22, 2015) – On June 28th, Lexus will compete in the Time Attack class of the Pikes Peak International Hill Climb. The luxury automaker will be campaigning the all-new RC F GT Concept, a vehicle that builds upon the legacy of the IS F CCS-R vehicles that last competed at Pikes Peak in 2013. This historic event, now in its 93rd running, is a race against the clock that tests man and machine with the changing elements, altitude, and a treacherous 12.42 mile, 156 turn course that winds up the peak from 9,390 feet up to the 14,115 foot summit. The new Lexus will be piloted up the mountain by British driving ace, 24 Hours of Le Mans winner, and automotive media personality Justin Bell. "With very little time behind the wheel, the RC F GT Concept has already proven fast and easy to drive, very much like the production models, actually.

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.