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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.

Mazda CX-5 named Japan's Car of The Year, Subaru BR-Z wins "Special Award"

The Mazda CX-5 stamped its Kodo design and SkyActiv technology authority all over the Japan Car of the Year awards, taking the top prize ahead of the Subaru BRZ/Toyota GT 86. It is Mazda's second victory in the last ten years, the 2005 MX-5 claiming the same trophy, and the fourth time the Hiroshima company has won.
The award is decided by 60 local "automotive experts and journalists," and open to any passenger car released in Japan from November 1, 2011 to October 31, 2012 that has sold more than 500 units. Each judge gets 25 votes, his or her top vote getting 10 points, the rest of the points being spread among the judge's choice for the next best four cars.
The second-place getters were the Toyobaru twins with 318 votes, the surprise being they didn't beat or get any closer to the crossover. The Subaru BRZ did claw some mojo back, earning the Special Award given to cars that have made "an exceptional impact." The BMW 3 Series was third overall and won the Import Car of the Year award with plenty of room between it and the second place Range Rover Evoque.

2019 Subaru Crosstrek Hybrid PHEV electric range, according to CARB

Subaru's first plug-in vehicle is coming, and it's coming soon. The end of 2018 is upon us already, and the 2019 Subaru Crosstrek Hybrid is almost ready for primetime. This time around, it has a plug, a feature that is notably absent from the car's nomenclature, a la the Chrysler Pacifica Hybrid. It will also borrow its PHEV technology from Toyota and now, we have California Air Resources Board ( CARB) documents that suggest the Crosstrek Hybrid's all-electric range. According to the document (which can be seen in PDF form here), CARB rates the Crosstrek Hybrid's Urban Dynamometer Driving Schedule electric range at 25.650 miles. For what it's worth, the Toyota Prius Prime with which this Subaru shares powertrain tech, has an EPA-estimated all-electric range of 25 miles and a highway electric range of 21.9 miles. The document also lists an "equivalent" all-electric urban range of 26.273 miles and "equivalent" all-electric highway range of 27.381 miles. ("Equivalent" range calculations come into play when PHEVs use a mix of electric and gas power at the same time.) The Crosstrek, which will use Subaru's own 2.0-liter gasoline engine, doesn't appear to suffer a reduction in electric range compared to the Prius Prime despite its size, elevated ride height or all-wheel-drive system, which raises a lot of questions. The reasons are still unclear, as we don't have a lot of details about the underpinnings of the 2019 Crosstrek Hybrid, and we can't help but be skeptical about those figures. Will it have a bigger battery than the Prime's 8.8-kWh pack? Will the electric motor drive all four wheels, or will it only power one axle under all-electric power? What other mitigating factors could add efficiency and, in effect, range to this Subaru? Are these calculations, in fact, indicative of the yet-to-be-announced official figures? Of course, we'll have to see how the EPA's final estimated driving range shakes out before we draw our official comparisons. We'll know a lot more when the 2019 Crosstrek Hybrid gets its official debut before the end of this year, plug and all. Related Video: News Source: California Air Resources BoardImage Credit: Subaru Green Subaru Fuel Efficiency Crossover Electric Hybrid PHEV