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Toyota to boost its Subaru stake to more than 20%

TOKYO — Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, a deal that would also see the smaller firm invest in Japan's top automaker, two people with direct knowledge of the matter said on Friday. The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public. The investment would come a month after Toyota and another smaller Japanese automaker, Suzuki, said they would take small equity stakes in each other. Such tie-ups highlight how automakers are scrambling to chase scale, manage costs and boost development. Traditional car makers, especially smaller ones like Subaru and Suzuki, are struggling to meet the fast pace of change in an industry being transformed by the rise of electric vehicles, ride hailing and autonomous driving. Toyota's investment is likely to cost more than 70 billion yen ($650 million) based on Subaru's stock market value, said the Nikkei business daily, which first reported the news. Subaru is likely to reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of the people told Reuters. The companies have long worked together on projects such as the Toyota 86 and Subaru BRZ twins. At one time, Subaru built Toyota Camrys in its Indiana plant. Representatives for both Toyota and Subaru said the news was not something that had been announced by their companies. "The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a 'mega Toyota.' This is the first step towards that," said Takeshi Miyao, managing director of Carnorama, a consultancy. "It's all about building scale." Subaru is particularly strong in sport-utility vehicles (SUV) and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs. Car markers around the world have been joining forces to slash development and manufacturing costs of new technology. Ford Motor Co and Volkswagen AG have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Toyota seems to be particularly keen to build scale now by investing in smaller, domestic automakers, rather than forging cross-border tie-ups like some of its rivals.

Subaru sells its 10 millionth car in the United States

No longer a niche automaker known for quirkiness, Subaru has sold its 10 millionth car in the United States a little over a year after its American division celebrated its 50th birthday. The milestone illustrates how quickly (and how much) the Japanese firm has grown in the United States. It took Subaru 41 years to sell the first five million cars on our shores. Its line-up evolved considerably during that time period; it went from peddling the 360, a tiny kei car damned by Consumer Reports as America's most unsafe car, to spear-heading the rugged wagon segment with the original Outback. It entered the 2010s with a clear idea of how to achieve maximum growth and sold an additional five million cars in a little more than a decade. Its formula is simple: expand while staying true to its roots. The milestone car, a white 2019 Impreza, isn't destined to spend the rest of its life in a museum. It was purchased in Salt Lake City, Utah, at Nate Wade Subaru, the brand's oldest American dealer, by Dr. Craig Harmon. He didn't know he had bought his daughter a historically significant Impreza until he noticed an arch made of balloons in front of the dealership. Nate Wade parked a fully restored 360 from its private collection next to the Impreza to illustrate how far Subaru has come in 50 years. Harmon's Impreza is a run-of-the-mill Rocky Mountains-spec hatchback: white with roof rack. It'll be covered in Utah's finest road salt in just a few weeks. Nothing about it reveals the threshold it represents, and Subaru isn't planning a limited series to mark the 10-million car milestone. Instead, it's focused on keeping its streak of sales records going into the foreseeable future.

2015 Subaru WRX

Every time I drive a Subaru WRX, I wish one of my parents had taken some weird, top-secret spy job that would have forced us to relocate to Finland when I was a kid. I could have learned the art of rally-style car control as a young lad, and in my adult life, sought out a dangerous/rewarding/awesome career as a professional WRC driver.
Never was that more clear than on the launch program for the new 2015 WRX, where Subaru pointed us down a long, somewhat treacherous stretch of road in the tree-lined mountains of northern California. Quick elevation changes were met with blind turns and washed-out shoulders, not to mention rogue bits of snow, ice and gravel that lined the apexes of nearly every turn. Here, I couldn't stop grinning, my co-driver and I switching between second and third gears, with precise steering inputs and judicious braking keeping us safely on the road and not plummeting nose-first into the trees. And the WRX simply devoured each inch of pavement with a ferocious poise that made me remember why I have loved this car so darn much.
But this sort of 100 Acre Wood perfection isn't the only way to experience Subaru's darling WRX. After a long stint of driving back down the California coast on Highway 1, I realized that Subaru's line about this being the best-driving WRX yet wasn't just a bunch of PR mumbo-jumbo. Of course, it isn't without a few compromises...