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Subaru profits fall by half last year among recall maladies

Subaru took a financial beating last year, according to its freshly released earnings report. During the full fiscal year, which ended March 31, the carmaker's operating profits effectively halved. Net income dropped 33% to 147.81 billion yen, or $1.33 billion, and revenue fell 2.2% to 3.16 trillion yen ($28.5 billion). Subaru states that its operating income declined by 48.5% to 195.5 billion yen, or to about $1.78 billion. According to Subaru, this was not only due to a decrease in sales, but also due to recall campaigns. Total production decreased nearly 6% to 989,000 units, and production stoppages at the Gunma plant were partially to blame for that — but Impreza, XV and Levorg sales also sank. The redesigned Forester did start out well in the summer, but sales in the first half of 2018 were more modest with the outgoing generation still in the showrooms. The Gunma manufacturing plant, Subaru's sole factory in Japan, ground to a halt in January 2019 to remedy issues with Forester, Crosstrek and Impreza electric power steering units, and that cost Subaru nearly 10 days of production, corresponding to around 30,000 vehicles. Earlier, there was a 500,000-vehicle recall in Japan due to fraudulent final inspections. Automotive News also lists other recent Subaru maladies, such as a low-fuel warning recall and stop-sale for all U.S-market Outbacks and Legacys, and the earlier, global recall to repair valve springs on the boxer engines of 411,000 vehicles. This particular recall hasn't been problem-free, as there have been cases where subsequent engine failures on BRZ models have been suspected of having been caused by slapdash recall work. There is also a new, large-scale recall in the horizon for Subaru, as a brake light issue on 2008-2017 vehicles necessitates the recall of some 2.3 million vehicles. However, it's not all bleak for Subaru, as U.S. sales are going strong. The carmaker predicts 2019 will be the 11th straight record year, and U.S. retail sales climbed 7.7 percent in April, which was the 89th consecutive month with increased sales. But still, not all Subaru markets are equal: On the North American market, Subaru sold 717,000 vehicles during the past fiscal year, an enormous percentage of its total sales. News Source: Subaru via Automotive News Plants/Manufacturing Recalls Subaru

Subaru moves to trademark the name ... Evoltis

Subaru's advancing to the electrified frontier, and it's reportedly picking a name for its plug-in hybrid. That name is said to be "Evoltis." While Evoltis sounds about as engaging as "Avensis" (Toyota) or "Magentis" (Kia), at least it's not as clunky as "Levorg" (an Aussie Subaru nameplate). Then again, when naming a child you should always try to picture how their name will be used in playground taunts, so we'll leave your to your imaginations on this one. A mention of the Evoltis name appears in the United States Patent and Trademark Office's listings, and the application has been filed as recently as March 26. We don't know yet whether the Evoltis name would stand for the entire vehicle or its hybrid tech — or if it will be actually used at all. Car & Driver reports that Subaru of America didn't comment on the matter when asked. But still, Subaru is said to come up with a PHEV by the end of the year, largely using Toyota's technology from the Prius Prime. We're probably not the only ones to hope for an all-wheel-drive setup, which would best suit Subaru's image and character. Last year, the carmaker said an electrified vehicle should be expected for 2018, but didn't specify whether it would be an EV or a hybrid. Subaru hasn't offered a hybrid in the U.S. since the Crosstrek Hybrid was discontinued in 2016, and it's produced precious few all-electric vehicles in its history. Related Video:

New York Auto Show Special with the Ram REV, Kia EV9 and more | Autoblog Podcast #775

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off with what it was like to be at the New York Auto Show, then provide analysis on all the big reveals. The big reveals touched on include the 2025 Ram REV, 2024 Kia EV9, Genesis GV80 Coupe Concept, 2024 Hyundai Kona variants, 2024 Subaru Crosstrek Wilderness and 2024 Jeep Wrangler. They also touch briefly on some non-NY news with a refresh of the Mercedes-Benz GLS-Class. Lastly, the two discuss the cars they've been driving, including the 2023 Mercedes-AMG EQE and our long-term Toyota Sienna minivan. Autoblog Podcast # 775 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown NY Auto Show 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range Kia EV9 targets 300 miles of range, U.S. production at NY Auto Show Genesis GV80 Coupe Concept is coming to reality 2024 Hyundai Kona Electric and gas variants revealed with full specs at NY Auto Show 2024 Subaru Crosstrek Wilderness takes the hatchback to literal new heights 2024 Jeep Wrangler reveals more tech, refinement — and a cheaper 4xe News 2024 Mercedes-Benz GLS-Class gets a light update What we're driving 2023 Mercedes-AMG EQE Long-term 2023 Toyota Sienna Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2025 Ram 1500 REV packs 650 horsepower, up to 500 miles of range