2007 Toyota 4runner Sr5 Sport Utility 4-door 4.0l, 4 Runner, on 2040-cars

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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 Recalling 1.67 Million Vehicles Worldwide

UPDATE: Toyota is now announcing specifically which models are covered under its fuel pipe recall in the US. The company is repairing about 423,000 Lexus models that include the 2007-2010 LS, 2006-2011 GS, 2006-2011 IS, 2010 IS C and 2008-2010 IS-F. The automaker says that it isn't aware of any fires, crashes, injuries or fatalities caused by this problem. According to Toyota, the recall is because it's possible for the fuel delivery pipes and the fuel pressure sensor to form a bad seal with the gasket between them because of a protective coating protecting against corrosion on the pipes. It's possible for this to eventually cause a fuel leak, and obviously in a hot engine bay that's a potential fire risk. To fix the problem, dealers will replace the gasket and repair the gasket seating surface between the fuel delivery pipe and the fuel pressure sensor. The company will begin notifying owners soon. You can find the official press release, below. 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. Finally, Toyota is recalling 190,000 Corolla Rumion and Auris models in Japan for a faulty evaporative emission control unit. Autoblog is in contact with Toyota, and we'll update this story as soon as we know more about its affect on the US market.

Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.