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Subaru cuts annual profit outlook on strength of yen, typhoon impact

TOKYO — Subaru lowered its annual profit forecast on expectations of a stronger yen and the impact on production from a typhoon last month, driving its shares down as much as 4.5%. Japan's smallest major automaker, one fifth of which is owned by top-ranked Toyota, cut its forecast for operating profit to 220 billion yen ($2 billion) for the year ending March 2020, from a previous forecast of 260 billion yen. Subaru revised its forecast for the yen to average 107 versus the dollar over the period, from 110 previously. A stronger currency eats into profits because cars exported from Japan become more expensive and the value of earnings made overseas decreases. The United States is Subaru's biggest market, accounting for about 60% of overall sales. Typhoon Hagibis forced Subaru to halt production at its factories in Gumna, north of Tokyo, for more than a week in October due to supply chain disruptions. The stoppage, which lasted until Oct. 25, resulted in lost production of 11,000 vehicles, Chief Executive Officer Tomomi Nakamura told a briefing in Tokyo on Wednesday. Hagibis was the worst typhoon to hit Japan in decades, leaving at least 80 people dead, according to national broadcaster NHK. "We have restarted production, but we couldn't return to full capacity immediately," Nakamura said. "Some of our suppliers' factories were completely submerged." Subaru also said vehicle sales rose nearly 20% in the first half of the fiscal year compared with a year earlier, driven almost entirely by an improvement in the United States amid strong demand for the Forester SUV crossover. Subaru shares were down 1% at 3,102 yen by 0440 GMT, after touching a low of 2,995.5 yen earlier.

2017 Subaru BRZ First Drive

When the Subaru BRZ debuted in 2012, it was heralded as a return to the traditional Japanese sport coupe formula – a compact, lightweight, rear-wheel-drive runabout that hearkened back to greats like the original Toyota Celica, Mazda's RX-3, and the Nissan 240SX. Japan is covered in mountains, and that's where its enthusiasts honed their hooning. Cars that emphasize handling, not horsepower, make the most sense there. Now, five years on, Subaru is using the model's first facelift to further differentiate it from its Toyota cousin. The BRZ is Subaru's ultimate vision of a sophisticated driver's car, more string-backed gloves than flat-brimmed hat. To prove the point, Subaru invited us to drive the refreshed 2017 specimen, along with 2016 models for comparison, at Japan's legendary Fuji Speedway. The BRZ's revised styling makes the distinction painfully clear right off the bat. It now sports a squarer jawline, with a chin described by senior designer Yuki Kumono as aircraft-inspired. LED DRLs are embedded in the new headlamps, moved up from the space they once shared with fog lights. A side note for Subaru fans: The C-shaped DRLs are called "hawkeyes" internally, which is sure to cause confusion among Subarists who have already given that name to the 2006–07 Impreza WRX and STI. Freshened taillights and a reshaped spoiler update the badonk, and the Subie has new fender inserts. Styling is of course a subjective matter, but anyone who says the sea-creature maw of the post-Scion 2017 Toyota 86 is better looking is clearly wrong. Ultimately, though, the question on everybody's minds is, "Does the BRZ have any more danged power?" The answer to that is yes, technically, but only on certain cars. The 2.0-liter boxer four makes five more horsepower and five more pound-feet of torque only on manual-transmission cars. That brings the totals to 205 hp and 156 lb-ft. Cries for a turbocharger have gone stubbornly unanswered. In typical Japanese fashion, it's not the numbers that matter. Subaru has focused instead on the overall driving feel, that elusive metric that can't be expressed on a spec sheet or through the frothing internet comments of armchair racers. Subaru's engineers, some of whom are trained as the company's expert test drivers, have toiled away at a host of improvements for the base Premium trim, the upper Limited grade, and a new Performance Package that's available on top of the latter.

Subaru WRX hatchback back off the table

It's fair to see we're rather fond of the new Subaru WRX. That's not to say we don't have a number of issues with the budget sports sedan, though. Foremost among those complaints is that it's short exactly one door. Yes, the sedan-only WRX is just fine, but we'd be lying if we said we weren't missing the long-roofed, five-door model of years past. More pressing than our sentimentality, though, is the business case for a WRX wagon - half of the 2013 WRX and STI models sold had five doors. As a general rule, ignoring half of your former customers isn't the best strategy for long-term success. There was some hope, as recently as a few weeks ago, though, that Subaru would right this wrong and offer a real, five-door WRX. An Australian reporter managed to corner project manager Masuo Takatsu, who said strong interest from the US meant that the Subaru mothership was considering a WRX with a hatch rather than a trunk. Sadly, that doesn't seem to be the case, as Subaru USA is dashing any and all hope of a second body style. According to Motor Trend, the company's US arm reached out to Japan and, despite the statements made by Takatsu, confirmed that there were no plans for a WRX wagon. Sigh...