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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 supplies running low as automaker struggles to keep up with US demand

Consumers in the US are gobbling up Subaru models, a trend that may result in dealer shortages if the Japanese automaker isn't able to meet the surging demand. A quick look at the numbers reveals a 25.2 percent year-over-year jump in April US sales, and a 17-percent gain for the first quarter of 2013. The sales are so strong that the company's CEO, Yasuyuki Yoshinaga, told the Wall Street Journal that Subaru will exceed its 2016 goals (380,000 US units sold) by the end of the company's current business year. The US market has grown to be one of Subaru's best, with the company now logging about half its global sales on our shores.
While strong sales are good problem to have, the automaker has relatively limited production capacity, which may leave dealers with sparse inventory. Certain models, such as the popular Forester crossover (shown above), could hit 10,000 units this month with the plant at full capacity (far above its target of 8,000 units). On average, the US car industry has a 60-day supply of vehicles on hand, but inventory for the new Forester is at just 16 days. "If this situation persists, we'll face a supply shortage," Mr. Yoshinaga told the WSJ.
Despite being one of the smallest Japanese automakers by volume, this is all positive news for Subaru and parent Fuji Heavy Industries, which projects a second straight year of record operating profit thanks to strong US sales and a weaker yen.

UK designer to make WRX Concept-aping body kit for production Subaru

Remember the Subaru WRX Concept shown at the 2013 New York Auto Show, the one almost everyone loved but no one expected Subaru to make? Indeed, that Parnassian "design statement" led to a production design that came from a good middle class neighborhood known for its office parks and pasture land. UK designer Michael Bond is offering to change that, the man behind the yet-to-be-produced Rumbler "Superhero Utility Vehicle" touting the Subaru WRX Concept 13, which would take a customer's new WRX and turn it into something pretty close to the original concept.
That means new front and rear clips, including a redesigned rear diffuser to increase downforce, but a spoiler can be installed if the buyer decides that what he wants. The car won't be an exact replica of the NYIAS concept since that would infringe on Subaru's intellectual property, but it isn't clear yet how the design would be altered. Bond's site says that once he gets 50 confirmed orders, his team will order a WRX and begin the process of creating the new bodywork. It is claimed that once work begins, it will be four to six months to "[present] a completed model for public view."
Bond says the price will come down depending on the number of orders beyond 50, but doesn't give any indication of how much those first 50 cars could cost. If you're keen, though, head over to the site and fill out the enquiry form. Who knows if the Concept 13 will happen, but so far this is the best chance you have of getting what could have been.