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Subaru profits fall by half last year among recall maladies

Subaru took a financial beating last year, according to its freshly released earnings report. During the full fiscal year, which ended March 31, the carmaker's operating profits effectively halved. Net income dropped 33% to 147.81 billion yen, or $1.33 billion, and revenue fell 2.2% to 3.16 trillion yen ($28.5 billion). Subaru states that its operating income declined by 48.5% to 195.5 billion yen, or to about $1.78 billion. According to Subaru, this was not only due to a decrease in sales, but also due to recall campaigns. Total production decreased nearly 6% to 989,000 units, and production stoppages at the Gunma plant were partially to blame for that — but Impreza, XV and Levorg sales also sank. The redesigned Forester did start out well in the summer, but sales in the first half of 2018 were more modest with the outgoing generation still in the showrooms. The Gunma manufacturing plant, Subaru's sole factory in Japan, ground to a halt in January 2019 to remedy issues with Forester, Crosstrek and Impreza electric power steering units, and that cost Subaru nearly 10 days of production, corresponding to around 30,000 vehicles. Earlier, there was a 500,000-vehicle recall in Japan due to fraudulent final inspections. Automotive News also lists other recent Subaru maladies, such as a low-fuel warning recall and stop-sale for all U.S-market Outbacks and Legacys, and the earlier, global recall to repair valve springs on the boxer engines of 411,000 vehicles. This particular recall hasn't been problem-free, as there have been cases where subsequent engine failures on BRZ models have been suspected of having been caused by slapdash recall work. There is also a new, large-scale recall in the horizon for Subaru, as a brake light issue on 2008-2017 vehicles necessitates the recall of some 2.3 million vehicles. However, it's not all bleak for Subaru, as U.S. sales are going strong. The carmaker predicts 2019 will be the 11th straight record year, and U.S. retail sales climbed 7.7 percent in April, which was the 89th consecutive month with increased sales. But still, not all Subaru markets are equal: On the North American market, Subaru sold 717,000 vehicles during the past fiscal year, an enormous percentage of its total sales. News Source: Subaru via Automotive News Plants/Manufacturing Recalls Subaru

Submit your questions for Autoblog Podcast #344 LIVE!

We're set to record Autoblog Podcast #344 tonight, joined by Doug DeMuro, author of Plays With Cars, formerly of Porsche Cars North America, and all-around swell guy. You can drop us your questions and comments via our Q&A module below, and we'll give them extra-diligent attention. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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Weekly Recap: Mazda's rotary revival ignites Tokyo Motor Show

Forty-eight years ago Mazda pioneered rotary engines in the Cosmo Sport. Mazda then honed the technology, won with it on the racetrack, and made it one of its signature features. If you're an enthusiast, rotary was a reason you like Mazda. It's a great part of the company's past. But until this week, that's exactly what we thought it was. History. That all changed with the reveal of the RX-Vision concept at the Tokyo Motor Show, which reignited the passions of the Mazda faithful. Suddenly, rotary was no longer a relic. The rotary concept shown in Japan was a front-engine, rear-wheel-drive sports car wrapped in the company's latest Kodo design language. It's powered by a Skyactiv-R unit (R for rotary), though specs were not disclosed. Mass production is "currently on hold," Mazda said, maintaining it never stopped development of rotary technology, even after the demise of the RX-8. Beyond that, we know nothing, other than the optimistic statement Mazda offered that: the "RX-Vision represents a vision of the future that Mazda hopes to one day make into reality." Put simply: we agree. OTHER NEWS & NOTES: Subaru previews next-gen Impreza While the Mazda concept was the headliner from Tokyo, Subaru's Impreza design study also stood out. The five-door concept is a signpost for the look of next-generation Impreza. It blends sportiness with functionality, and it's wrapped in a striking shade of 'high-luminance silver.' The fenders are flared to signal Subaru's all-wheel-drive capability, and the front has futuristic headlights that look like something from an Audi E-Tron concept. While most of this will be toned down in production, the concept suggests an elevated style for the Impreza, which is due as a 2017 model. Porsche adds potent GTS model to 2017 Macan line Porsche is giving the Macan crossover the GTS treatment, which will start at $68,195 when it goes on sale in March. GTS translates to more power, a sportier suspension, and interior and exterior design cues that sharpen the looks and reflexes of one of the most athletic SUVs on the market. Porsche recalibrated the 3.0-liter twin-turbo V6 from the Macan S to make 360 hp and 369 lb-ft, (up from 340 hp and 339 lb-ft in the S). It teams with a seven-speed PDK gearbox and all-wheel drive. An air suspension is standard. The body features a slew of black accents, and the standard 20-inch RS Spyder wheels are done up in a shade of satin black. The cabin gets leather, Alcantara, and GTS logos.