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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.

Man posts dashcam video of epic crash over cliff

YouTube user TurboFoz uploaded dashboard camera footage Monday of a terrifying crash that occurred last year as he was driving the popular Angeles Crest Highway in California. Last January, TurboFoz was zipping through the San Gabriel Mountains in his 2004 Subaru Forester XT. The engine sound was so alluring, TurboFoz opened up his Forester in the tunnels that dot the scenic highway for the full effect. "As an auto enthusiast, when you have a nice relatively fast car with a loud exhaust you tend to like tunnels," he wrote. "They make your exhaust sound that much better, sort of like singing in the shower." What he didn't know was that the road curved sharply just outside of one of these tunnels. A bystander tried to wave him down, but TurboFoz wasn't sure why the man was signaling to him. It was only when he saw the angle of the road up ahead that he realized the man was trying to tell him to slow down. He applied the brakes, but it was too late. The Subaru slid across the road and tumbled off the cliff. He rolled several times before coming to rest on a large drainage pipe jutting from the steep mountainside. If it wasn't for that small ledge on the sheer cliff the accident could have been much worse. "It was the only horizontally level piece on an extremely steep sloped hill," he wrote. "Had I spun off a few feet before or after, I'd be dead. TurboFoz says driving too fast on an unfamiliar road cost him his beloved Subaru and almost his life. Luckily TurboFoz was unhurt, but unluckily his beloved Forester was a total loss. TurboFoz hopes he can save other enthusiasts from the same, or worse, fate. "This is a reminder to be safe, pay attention and KNOW THE ROAD before you try to have "fun" on it," he said. "I failed on all 3 of those accounts and it nearly cost me my life. I've more than learned my lesson and would hope some others do by my example." News Source: YouTube Subaru Driving Ownership Safety Autoblog Minute Videos

2014 Subaru Forester priced from $21,995*

Subaru has officially announced that its all-new 2014 Forester will carry a base MSRP of $21,995 when it hits dealerships early this year, (*not including $895 in destination fees). This represents an increase of $700 over the outgoing 2013 model.
That new price will net buyers the base 2.5i model equipped with a six-speed manual transmission. Subaru will also sell the 2.5i engine in Premium, Limited and Touring trims, though the automaker has not released specific price points for those models. These models are powered by a 2.5-liter four-cylinder engine that produces 170 horsepower and 174 pound-feet of torque. Subaru says that with its standard all-wheel drive, the Forester 2.5i will be good for fuel economy numbers of 24/32 miles per gallon (city/highway) when equipped with the company's continuously variable transmission. Manual models see those numbers drop to 22/29 mpg.
The more powerful Forester 2.0XT will only be offered in Premium and Touring trims, starting at $27,995 (not including destination). These models are powered by a turbocharged 2.0-liter inline four, sending 250 hp and 258 lb-ft to all four wheels. Fuel economy doesn't suffer terribly with this more powerful engine, as only the CVT is offered. Subaru quotes figures of 23/28 mpg here.