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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.

2015 Subaru WRX: Road trip to Maine [w/video]

After driving one of the best sport compacts on the market to one of the best-driving-roads states in the Union, who'd have thought that one of my big takeaways would be... great fuel economy? And yet, after putting more than 2,200 miles on our long-term 2015 Subaru WRX, driving from Ann Arbor, MI, to The Great State of Maine and back, my overall fuel consumption figures were almost as baffling as the premium-gasoline prices throughout Canada. In the early part of the now-past autumn, my wife Molly and I were happy to make use of the long-term WRX for our annual road trip from Michigan to Maine. Our goal, as ever, was to fit as much hiking, boating and lobster eating as we could into a one-week span. And, with the sporting Scoobie as our ride this time, I also hoped to spend time bombing down some of my favorite roads through the White Mountains. Anyone that pays attention to the industry knows that New England is a hot spot for Subaru sales, but it turns out that the WRX is just about tailor made for enjoying the best of Maine, too. First up, though – as it was the most surprising to me – is the fuel economy story. I knew going into the trip that I'd log more than two grand on the odometer, but I never expected the returns to be quite so positive as they ended up netting out. My total observed economy over 2,226 miles was 28.38 miles per gallon, or just a fraction better than the EPA estimated highway number of 28 mpg. How'd I do that? My total observed economy over 2,226 miles was 28.38 miles per gallon. Well, for starters, the stretch of Canadian highway between Michigan and Vermont is exceptionally long, flat, straight and dull. Excepting the inevitable traffic around Toronto, the trip is mostly of the "set it and forget it" variety, typically at a cruise of about 72 miles per hour (so as not to attract the Mounties). Doing that haul, I had one tank of premium (15.9 gallon capacity) last for 466 miles, running a trip-best 31.9 mpg. Considering that the Canadian petrol was running me roughly five American bucks per gallon, I appreciated the Subie's newfound frugality. One small issue, tangentially related to fuel, did crop up on the road. The WRX's gas door stopped popping open when I pulled the lever after my second fill up. As it turned out, there is a technical service bulletin out for this very issue, which was looked after as soon as we got back to the States.

Subaru WRX hatchback mule spotted

Despite on-again, off-again rumors, this latest set of spy shots seems to indicate that yes, a five-door Subaru WRX is indeed in the works. Subtlety is key with this test mule, but there are clear bits of evidence that indicate a hotter hatchback is what's being developed here.
First, notice the WRX-spec front fascia grafted onto this ordinary-looking Impreza hatch. From there, we can clearly see the tiny bit of added width - most obvious on the roof and at the rear, near the fuel door and taillamps. And of course, let's not forget about that bulge in the hood, consisting of a metal panel that covers the hood scoop and can apparently be removed thanks to a series of screws, according to our spies. The WRX's more robust exhaust and larger wheel/tire package have not been added to this mule, though we're told that this is commonplace for Subaru prototypes - those bits should be added on as the car's development progresses.
We fully expect a WRX hatchback to be, well, just that - mechanically, it should be identical to the sedan brethren, though our spies indicate that Subaru could be testing an updated version of the WRX-spec boxer engine. Of course, there's always a chance that this could be something else entirely, given the on-and-off reports of the five-door 'Rex's existence in the first place...