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Subaru investigates possible mileage data cheating, shares drop

TOKYO — Subaru, already smarting from a vehicle inspection scandal at home, said it was now investigating whether mileage readings may have also been falsified during final checks, driving its shares down as much as 8 percent. Mileage readings, an indicator of fuel efficiency, do not fall under safety requirements. However, any proof of what would be a second instance of misconduct in as many months would taint the image of not only Subaru but also Japan's manufacturing industry, which has been rocked by a slew of scandals recently. Just last year, Mitsubishi Motors saw around 40 percent of its market value, or $3.2 billion, wiped out in three days after it admitted it had overstated the fuel economy of its minivehicles. Subaru on Wednesday said it was checking to see if any possible fabrication could have impacted its official mileage readings and if any exported models may have been affected. "At the moment we are trying to confirm whether data was indeed fabricated, and if so, how this happened and which models are affected," Subaru spokeswoman Miyuki Yasuda said. She added that any evidence of falsified mileage figures was unlikely to result in a recall as it would not constitute a violation of safety requirements. The mileage probe follows Subaru's revelation in October that uncertified staff had been for decades carrying out final checks that the Japanese government requires on new cars sold in the Japanese domestic market. The company this week vowed to improve oversight, but it did not mention any probe into mileage readings at the time. Subaru said reports of falsified mileage readings emerged as external investigators looked into the inspection scandal. Some inspectors told investigators that mileage data had been altered on some sample vehicle models tested during final checks. Subaru said it had not confirmed that any such fabrications had taken place. "Coming on the heels of the certified inspection issue, this could be a sign of a bigger problem of how Subaru manages its manufacturing operations," said Janet Lewis, head of Asia transportation research at Macquarie Securities. Subaru shares fell as much as 8.5 percent to their lowest since July 2016, before ending down 7 percent. The stock has given up almost 10 percent over the past two months amid the inspection scandal.

Subaru, Mazda profits dip; both blame exchange rates

While some larger automakers took a beating on Q4 earnings, some of Japan's smaller operations managed to keep their heads just above water despite currency issues and slumping sales industry-wide. Subaru, which capped off its 11th consecutive year of U.S. sales increases, reported a 42-percent drop in operating profit in the final quarter of 2019; Mazda, which operates on an even smaller scale, saw a 76-percent drop.  Per Automotive News, both companies faced challenges apart from navigating currency exchanges.  Subaru Subaru's 2019 was marred by warranty costs stemming from repairs on high-volume models, including the Impreza and Crosstrek. Despite the drop in profit, company revenues only slid 2.3 percent. The company also says that it has managed to curtail incentive spending, largely thanks to replacement models that needed less help moving out of showrooms.  America remained a bright spot, with 2019 sales volumes increasing by nearly 3 percent over 2018. Subaru is hoping that figure will increase to 4.0 percent in 2020. Subaru's wholesale deliveries also increased in western Europe, but dropped precipitously (28 percent) in the company's home market.  Mazda The smaller Mazda faced similar challenges, but its 2019 lacked some of Subaru's more dramatic bright spots. Worldwide shipments of new vehicles dropped by 8 percent, aiding a revenue decline of 5 percent. Mazda's vehicles remained profitable on a per-unit basis, but only just.  Mazda has been undergoing aggressive cost-cutting measures, but even those were no match for reduced volumes and unattractive currency exchange rates.  Despite these challenges, both companies are keeping their earnings outlooks unchanged. The fourth quarter of 2019 represented the third quarter in both companies' fiscal years, which will end in March.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Subaru WRX STI S209 | POV Drive

Subaru Viziv-7 Concept is AWD done XXL

Subaru is an all-wheel-drive brand. Everything in its range, BRZ aside, sends its power to the road through all four wheels. But while you can get some sedans and a few high-riding wagons (ostensibly considered CUVs) from the Japanese brand, the company hasn't done an SUV since the Tribeca went out of production. That's going to change soon. The Subaru Viziv-7 SUV Concept previews such a change, and it's what happens if you stylistically embiggen the new Impreza Hatchback, raise the suspension significantly, and apply all sorts of concept car tinsel. Oh, and it looks good, based on the couple images Subaru distributed ahead of the car's LA debut. But while we can't show you finer details, we do have a good idea of what kind of vehicle is coming down the Subaru pipeline. View 14 Photos As the name suggests, the Viziv-7 has room for seven passengers spread across three rows of seats. That makes sense – Fuji Heavy Industry's Corporate Executive Vice President Takeshi Tachimori did say "the next three-row from Subaru will be the biggest Subaru vehicle ever." The wheelbase is 117.7 inches long while the overall vehicle measures 204.7 inches in length. If that sounds huge, it is – the Viziv-7's has 1.7 more space between the axles and is 0.8 inches longer than a Chevrolet Tahoe, which is only 0.6 inches wider and 2.4 inches taller. This is a big Subaru. But that's all we know for certain. Subaru hasn't mentioned anything about powertrains, or when a production version will follow. Naturally, we'll try to fill in the many blanks surrounding the Viziv-7 as soon as possible. Related Video: Related Gallery Subaru Viziv-7 SUV Concept News Source: SubaruImage Credit: Live photos copyright 2016 Drew Phillips / Autoblog LA Auto Show Subaru SUV Videos Original Video subaru viziv-7 concept