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Subaru posts 15.7% rise in fill-year operating profit

TOKYO — Subaru on Monday posted a 15.7% rise in annual operating profit in the fiscal year that ended in March as it recovered from a raft of product recalls last year, but warned that sales of its cars would take a hit from the coronavirus outbreak. Profit rose to 210.3 billion yen ($1.96 billion) for the year just ended, from 181.7 billion yen a year earlier under international financial reporting standards. It exceeded a consensus estimate of 204.7 billion yen profit drawn from 17 analysts polled by Refinitiv. Global automakers are struggling to recover from the coronavirus, which has pummeled car sales as shelter-in-place orders in many countries clobbered car demand, while plant workers had been left unable to commute to work. Though Subaru and its rivals have begun to restart vehicle factories, anaemic demand, supply chain disruption and social distancing measures at factories are expected to limit output in the coming months. "We saw a limited impact of the coronavirus on our results for the year just ended," Chief Executive Tomomi Nakamura told a teleconference. "But although we have resumed production this month, we are only operating one shift in Japan, and the pace of U.S. output has slowed significantly ... we see many uncertainties related to the virus." As a result, the maker of the Outback and Forester SUV crossovers declined to give an earnings forecast for the current business year, while it slashed its year-end dividend for the year just ended by 61% to 28 yen per share. Some analysts believe industry-wide global auto sales could slump by a third this year and that any recovery will be slow and patchy as job losses and reduced incomes weigh on consumer spending. Subaru, which earns two-thirds of its vehicle sales from the United States, acknowledged that it may take a hit in the coming months as its biggest market struggles get the coronavirus pandemic under control. The automaker saw a 3% rise in global vehicle sales in the year to March to 1.03 million units, bouncing back from last year, when a defective steering component and measures to improve inspection tests had stopped output for two weeks at its sole assembly plant in Japan. The process to restart its U.S. plants would take time, Subaru said, and it expects to produce only around 5,000 units this month, a fraction of last year's 40,000. The virus would result in a global production hit of around 150,000 units, it added.

Next Subaru WRX STI could get 400-hp from a 2.4-liter boxer

Yet another report puts Subaru's FA24 2.4-liter boxer four-cylinder in the next-generation WRX and WRX STI. Not only that, the story in Japan's Car Sensor magazine (translated) seconds a Forbes report from February of this year that the hardest-core Scooby will make 400 horsepower and 361 pound-feet of torque from a high-output version of the 2.4-liter. As we said a few months ago, a 400-hp Subaru would become the most powerful factory official Subaru sold in the U.S., ever. Car Sensor explains that Subaru moved to the 2.4-liter because of the engine's better emissions and drivability. What's more, now that the WRX STI isn't irrevocably tied to its rallying motorsports results, Subaru felt it doesn't need to lean on the 2.0-liter displacement provided by the EJ20 still put to use in the Japanese WRX STI or the FA20F in our WRX. The rumored output would mark a substantial step up from the 310 hp and 290 lb-ft available from the current 2.5-liter in the WRX STI. It's not clear yet where Subaru will rate 2.4 for use in the WRX. The Car Sensor report placed the FA24 in the context of Subaru's plan to have 80% of its lineup powered by three small-displacement turbocharged engines, the 2.4-liter at the top. The FA24 already motivates the Ascent, Legacy, and Outback, making 260 hp and 277 lb-ft in all three models. Getting to the 400 mark would be made possible by toughened internals and additional boost. A six-speed manual is a given. The CVT will need some help, however. Car Sensor suggests the current Lineartronic unit can handle no more than 295 lb-ft. It's inevitable Subaru will work out some sort of self-shifting option, since its EyeSight driver assistance tech doesn't work with a manual transmission, and we can't imagine Subaru removing EyeSight when it's found on the current WRX. It's possible Toyota could step in with an assist, similar to how Toyota is apparently consulting on the all-wheel-drive system in the next-gen cars — perhaps with bits taken from the complex driveline in the Yaris WRC. The coming WRX should arrive in the first half of 2022. At the other end of the tuning scale, the BRZ and Toyota 86 have been rumored with the 2.4-liter, but making around 255 hp and 200 lb-ft. Below the 2.4-liter, Subaru is said to be working on a 1.5-liter turbocharged mill to replace the 2.0-liter naturally aspirated engine that serves models like the Impreza and Crosstrek.

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