Filed under: Plants/Manufacturing, GM, GMC, Toyota, Earnings/Financials

Toyota Financial Services recently leaped over GMAC Financial services to take the lead as the biggest U.S. auto lender in terms of loan and lease contract volume. The study by AutoCount (a unit of the Experian Automotive company) estimates that Toyota captured 6.35% of the market from January through June, while GMAC had 6.2% for a close second place. Rounding out the top five were Chase Auto Finance, American Honda Finance, and Ford Credit (in that order).

As GMAC has made major cutbacks in leasing over the summer, many industry experts expect Toyota to hold its lead through the end of the year. A spokesperson from GMAC was quick to point out that the study did not include two wholly owned subsidiaries: Nuvel Credit and National Auto Finance. When those two companies are included, GMAC’s share increases to 6.72 percent — effectively placing them at the top again. While the automakers battle for the title position, the independent banks are the ones to watch. They’ve been steadily increasing their lending share as the Detroit 3 struggle with the rising costs of funds and declining credit ratings.

[Source: Automotive News, subs. req’d]

Permalink | Email this | Comments

Filed under: Hybrid, Toyota

Next spring will be a big one for hybrid fans as a new generation of the Toyota Prius will get its most direct competitor yet in the shape of a new hybrid only model from Honda. We’ve already seen an assortment of spy shots of the camo-covered exterior of the Prius. Now we have our first peak at the interior of the new best-seller. The third (or fourth depending on how you count) generation Prius will officially debut at the Detroit Auto Show in January along with a Lexus badged hybrid-only model.

Although Toyota is loathe to relinquish details, it’s believed the new model will have a larger, more powerful engine growing from 1.5 to 1.8L along with an electric motor with more oomph. The beefed up motor is likely in preparation for the plug-in variant that should go into low volume fleet service in 2010. To make the most out of a plug-in system, the hybrid needs enough electric power to propel the car at least around town without having to start the engine frequently.

[Source: World Car Fans]

Read | Permalink | Email this | Comments

Filed under: Aftermarket, Gadgets, Tuners, Hybrids/Alternative, Green, Tech, Toyota, Lifestyle

Click above to view video after the jump

We truly do appreciate the custom-car scene, in all of its various guises. There is, however, a problem with the custom Prius you see above and in the video embedded after the break. Generally speaking, the goal of modifying a car is to either A) make it go faster or B) make it look better.

When Classe Gustafson, Elvis Häggbom and Kenny Kyrk from Sweden had finished spending $184,000 customizing a Toyota Prius, they had accomplished neither. This Prius-trocity, which was modified for a television show, is anything but subtle. It lost two doors during its transformation from mild-mannered hybrid eco-mobile to whacked out sport compact that just happens to get good fuel economy, though it did get scissor-style portals that are nearly impossible to open in the process. And it also gained a huge honkin’ stereo and the body-kit from a Volvo SUV. The over-the-top paint-job is the final touch. The Hybrid Synergy Drive powertrain, however, went untouched save for the obligatory fart-can exhaust. Nice.

[Source: Wired]

Continue reading The most obnoxiously tuned Toyota Prius… Ever

Read | Permalink | Email this | Comments