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Subaru profit climbs 48% on strong crossover sales in first quarter

TOKYO — Subaru reported a 48% increase in first-quarter operating profit on Monday as global sales grew, led by demand for the Ascent and Forester SUVs in the United States. The smallest of Japan's major automakers posted an operating income of 92.2 billion yen ($870 million) for April-June, versus 62.1 billion yen a year earlier and an average estimate of 65.6 billion yen from eight analysts polled by Refinitiv. Sales in the United States, by far Subaru's biggest market, rose 20%. It accounts for about 60% of Subaru's overall sales. The maker of Legacy sedans and Forester SUV crossovers maintained its forecast for operating income at 260 billion yen for the year to March 2020, up 45% from a year earlier. The previous fiscal year was marred by a string of recalls, production stoppages and inspection improprieties that cut the automaker's earnings in half. Subaru reiterated its annual forecast for global sales of 1.06 million vehicles. It also left unchanged its assumption that the yen will average 110 against the dollar over the course of the fiscal year, versus 111 last year. A stronger currency eats into profits because cars exported from Japan become more expensive and the value of earnings made overseas decreases.

Subaru fights sticker shock with financing deal on $65,000 WRX STI S209

Subaru's American division has come a long way since it peddled the tiny 360 during the late 1960s. The limited-edition, $65,000 WRX STI S209 unveiled during the 2019 Detroit Auto Show is its most expensive car yet, so the company is taking steps to make it a little bit more accessible. The Japanese firm sent its American dealers a bulletin announcing the S209 is eligible for 3.49% APR for up to 63 months, according to CarsDirect. The publication noted that rate amounts to monthly payments of $1,131 over 63 months, which adds up to $71,231. Buyers are still forking over more than $6,000 to the bank, but they're saving about $4,700 compared to a 6% loan. That's a substantial amount of money to drop on a WRX STI; it's priced in Audi TT RS territory. For the money, enthusiasts get one of the rarest street-legal cars Subaru has ever produced. After driving it, we called it the fastest, sharpest-handling, and most sophisticated WRX ever to grace our shores. It's powered by a 2.5-liter flat-four engine turbocharged to 341 horsepower and 330 pound-feet of torque, generous increases of 31 and 40, respectively, over the regular WRX STI. We'll let you decide whether exclusivity and power are worth a roughly $22,000 premium. If you want an S209 in your driveway, act fast because production is strictly limited to 209 examples, and odds are the entire batch will be spoken for sooner rather than later. Keep in mind dealers will be tempted to slap a markup on the car due to its rarity, so you might need to spend more — in some cases, a lot more — than the number listed on the window sticker. Featured Gallery 2020 Subaru WRX STI S209 View 41 Photos Auto News Subaru Car Buying

Subaru WRX STI S209 is the most expensive production Subaru ever

We asked for it, and now we have it: The ultimate WRX STI. It’s called the STI S209, and we drove the extra-special Subaru just a few short weeks ago. Now we have a price, and itÂ’s officially the most expensive new Subaru ever. All 209 examples of the S209 will sell for $64,880. WeÂ’ll give you a second to process that, but a second most likely isnÂ’t long enough. Every one of the 209 cars will be headed to the U.S. starting in November this year — STIÂ’s shop is only able to produce 2-3 cars per day, so itÂ’ll be a slow trickle of cars being shipped over here. Previous to the S209, the Type RA was the top dog in the American WRX lineup. It cost $49,855, and offered a nice bump in performance over a regular STI. This S209 finally gives us the significant increase in power weÂ’ve been asking for all these years, but it also represents a massive effort at making the best-handling STI ever. Aftermarket modifications could get you partway there, but there will be no true equivalent to the S209 coming from somebodyÂ’s garage. We fully expect itÂ’ll be Subaru WRX STI enthusiasts who spring for the few available cars, as the $64,880 price will likely be a major roadblock for all but the true believers. At that price thereÂ’s a huge variety of other cars to choose from, many of them more desirable than an ultra-rare Subaru to some folks. Dealer markups could take this car to even greater heights, especially if a dealer finds some Subaru fanatics with money to burn. If the 341-horsepower S209 sounds like something you need to park in your garage, we suggest you get over to the nearest bank and Subaru dealer as soon as possible.