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Scion was Toyota's lost generation

Toyota's top North American leader was succinct in explaining the reasons for killing Scion. "It's the right decision at the right time," Jim Lentz said. It's hard to disagree. In a strong market that saw 17.5 million sales last year, Scion volume dipped three percent. Its product lineup has withered for years, which is always a telltale sign a brand doesn't have the full support of its owner. Though enthusiasts love the FR-S sports car, it's the fruit of a joint project with Subaru that also produced the BRZ. Scion's coolest car has a twin sold by one of its rivals. After the FR-S launched in 2012, Scion got nothing – squat – in the way of new products until the iA and iM arrived late last year, IHS senior analyst Stephanie Brinley noted. "[Scion] was not successful in building a visual brand identity or product personality," she said. Lentz, Scion's first vice president and now CEO of Toyota's North American division, admitted the market has changed. "Younger customers have a different mindset," he said. In the early oughts, a brand that catered to a youthful demographic made some sense, and this is one front where Toyota can declare victory. Seventy percent of Scion's buyers were new to Toyota, and the average age was 36 years old. The problem is, not enough of them buy Scions anymore. Scion hit a highwater sales mark of 173,034 vehicles in 2006 and hasn't come close to reaching that since. The recession hurt Scion, too. It bottomed out in 2010 with just 45,678 sales, a time when the rest of the industry was beginning to recover. There was a brief uptick (73,507) in 2012, but Scion failed to capitalize on that momentum and sales fell for three more years. Toyota is calling Scion's pending death a "transition" back to the main company. Sure, most of the cars will be rebadged Toyotas, like the FR-S, iA, and iM. The C-HR, an attractive future crossover that would have given Scion a boost, will go into production as a Toyota. But make no mistake: This is a failure. Toyota is closing a brand in the same way General Motors scrapped Oldsmobile, Ford shuttered Mercury, and Chrysler dropped Plymouth. Those brands languished for years. Toyota moved quicker to put the fork in Scion, which prevented it from becoming a long-term drain on the parent company. Lentz was dead on. It's the right time. News & Analysis News: Sergio Marchionne is against a Ferrari SUV Analysis: His exact words were, "you have to shoot me first," Bloomberg reported.

Most reliable cars in America

For many people, the absolute worst thing they could experience with a car is for it to break or have a problem. The good news is there are cars that will ease the anxiety of their owners with infrequent trips to the shop. According to Consumer Reports, using data from its annual survey of subscribers, the following ten vehicles are the most reliable in the country, and are ordered from most to least reliable. Any of these vehicles should be a solid choice if the most important consideration in your car-buying decision is predicted reliability. That said, they aren't all vehicles that Autoblog's editors would recommend as fun to drive. We've provided links to our own driving impressions on these vehicles where possible. Also, if you care more about overall brand reliability than individual nameplates, check out the list of most reliable car brands. 10. Mazda CX-9 This three-row Mazda straddles the line where luxury begins and ends. It’s also pretty fun to drive for a family hauler. The fact that itÂ’s reliable to boot makes this an easy SUV to recommend. 9. Subaru Crosstrek Few vehicles define a segment quite like the Subaru Crosstrek. ItÂ’s a good buy, with class-leading ground clearance, tall seating position and good visibility, a surprisingly spacious cargo area, and multiple driving modes geared toward inclement weather and dirt roads. According to CR, it also sees fewer trips to the shop. 8. Toyota Highlander It wouldnÂ’t be a reliability list without at least one Toyota on it, and indeed the Highlander isnÂ’t the sole Toyota here. We especially like the Hybrid for its excellent fuel economy, but CR didnÂ’t break out its reliability list by powertrain. 7. Honda Insight The Honda Insight is a handsome, comfortable and affordable hybrid sedan. ItÂ’s also quite safe, and, according to CRÂ’s data, reliable. 6. Mazda MX-5 Miata Any Autoblog editor will happily profess their love for this Mazda MX-5 Miata. ItÂ’s an incredibly engaging roadster — at least when equipped with a manual transmission — that behaves a lot like the classic British and Italian roadsters of yesteryear. Thankfully, it doesnÂ’t share its European forebearsÂ’ penchant for breaking. 5. Cadillac XT5 One of the newer nameplates on this list, the Cadillac XT5 is also a hot seller for the American luxury brand. ItÂ’s also CadillacÂ’s most reliable vehicle. 4. Toyota Prius The Prius has been the face of Toyota efficiency for years now.

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.