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Subaru recalls more cars, slashes guidance as cheating issue widens

By Naomi Tajitsu TOKYO — Subaru Corp said it would recall more vehicles sold in the Japan domestic market on new cases of inspection cheating, and cautioned that rising recall costs would lop off about a quarter from its annual profit forecast. Shares in Subaru, already reeling from a series of recalls for issues ranging from faulty components to inspection do-overs, fell 5 percent to a four-year low on Monday after news of the fresh recalls and the bleak outlook. The company, the smallest among Japan's major automakers, said it would recall around 100,000 vehicles, including its popular Impreza sedan, after discovering that final tests for components including brakes were not conducted properly. Vehicles sold overseas will not be affected. "It's unforgivable that these inspection-related issues are continuing," CEO Tomomi Nakamura said at a briefing, while repeatedly adding that the latest recall would be the last related to testing misconduct. The automaker expects to incur 6.5 billion yen ($57 million) in costs related to the latest recall. This, along with other quality-linked issues, is expected to push down Subaru's operating profit to 220 billion yen in the year to March 2019. It had previously forecast a 300 billion yen profit. Subaru posted a surprise operating loss of 25 billion yen for the three months ended September, its first time in the red for a quarter since 2009 and missing a mean forecast for a 68.46 billion yen profit from 10 analysts polled by Refinitiv. Recall-related costs were the main driver of the loss, while global sales fell 6 percent over the quarter due to weak demand in the United States — its biggest market, where overall demand has cooled since record-high sales in 2016. (Click here for an interactive version of this chart) Engine recall Last month, Subaru nearly halved its first-half operating profit view, citing higher quality-related costs. It later announced a global recall of around 400,000 vehicles, including its Forester SUV and Impreza sedan, to fix a design flaw in the engines' valve springs. That came on the heels of another series of recalls stemming from revelations last year that uncertified workers had been submitting final inspection reports for vehicles sold in Japan. That had also led to a recall of about 400,000 cars. Recalls are common in the auto industry, and automakers regularly put funds aside to pay for them.

Subaru Indiana plant to stop building Toyota Camry

Subaru may be set to end production of the Toyota Camry at its Lafayette, IN facility by 2017, according to a report from the Louisville Journal-Courier and a CBS affiliate in Columbia, South Carolina. Speaking to the plant's Executive Vice President Tom Easterday, the whole affair sounds like a done deal.
"Based on changes in Toyota's production plans, they have decided that the award-winning Camry production contract will not be renewed," Easterday said. Easterday was quick to emphasize that just because Camry production would end, doesn't mean jobs will be lost. "There will be no loss of jobs at SIA as a result of this," he said, before adding that the loss of Camry production will have no impact Subaru's $400 million investment to ready the plant for Impreza production in 2016. That said, adding a promised 900 jobs may take longer than originally planned, as Camry production staff are set to be retrained on Subaru production.
SIA currently has the capacity to produce 100,000 Camrys per year, and began production of the family sedan in 2007 alongside production of the Subaru Outback, Legacy and eventually, the soon-to-be-discontinued Tribeca.

2020 Subaru Ascent: An update in a minor key

With the Subaru Ascent, Volkswagen Atlas, and Kia Telluride recently joining the field, the three-row SUV segment is as competitive as ever, so value is key to attracting buyers. For 2020, Subaru is keeping the Ascent's pricing the same but is adding a few new tricks. Albeit minor tricks, but new tricks nonetheless. The most notable addition to the Ascent range is Rear Seat Reminder. Every 2020 Ascent will come standard with the increasingly common technology, which alerts the driver to check the rear seat for a pup, a child or both. The system operates not by sensors, but on the recognition of specific scenarios. If the SUV is started within 30 minutes of a rear door being opened and closed, it will go off. If the rear doors are opened and closed when the Ascent is running but stationary, it will go off. If the vehicle is turned off and on within 30 minutes and the rear doors stay closed, it will go off. If the Ascent registers any of these conditions, the driver will be notified with a noise and a warning message once the vehicle is turned off. Subaru offers the Ascent in four different trim levels: Base, Premium, Limited and Touring. For the 2020 model year, Premium, Limited and Touring trims will come equipped with "one-touch interior illumination on/off controls." The Touring trim also adds new power-folding side mirrors with integrated turn signals. Despite the minor upgrades, Subaru is maintaining the same pricing for the 2020 Ascent as the 2019 model. The Base trim starts at $33,005, the Premium trim starts at $35,405, the Limited trim starts at $40,355, and the loaded Touring trim starts at $46,055. As mentioned in our review, the Subaru Ascent is a solid, though not the best, option in the three-row game. It's offered in seven- or eight-passenger configurations, has 8.7 inches of ground clearance, is rated to tow 5,000 pounds, comes standard with Subaru's symmetrical all-wheel drive, and is powered by a 260-horsepower turbocharged Boxer engine that makes 277 pound-feet of torque. The 2020 update makes it a tiny bit better.