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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.

Subaru broke its own Isle of Man record with a 550-hp WRX STI

Well, they did it. Subaru of America, Prodrive, and driver Mark Higgins set out to break their own record on the Isle of Man's Snaefell Mountain Course, and the attempt was a success. Higgins covered the 37-mile course in the 2016 WRX STI Time Attack car in 17 minutes, 35 seconds. That's an average speed of 128.73 mph. Average. In a car. Higgins set the previous record, 19:26 at 116.47 mph, in a more-stock STI. He and Subaru of America have been bringing cars to the site of the motorcycle race for years now, setting automotive records as all along, but this one is going to be pretty tough to top. Subaru Prodrive Isle of Man View 4 Photos It comes pretty close to the overall lap record for the course, which was set over the weekend by Michael Dunlop. The rider set a 16-minute, 58.254-second lap in the RST Superbike TT, averaging about 133 mph. The fact the Subaru comes so close to the best bike time is pretty amazing. This year's Isle of Man TT weekend was marked by the deaths of two riders. Fatalities are a regular occurrence at the historic race around the island, but it continues to be held year after year with hundreds of participants. Related Video: Featured Gallery 2016 Subaru WRX STI Time Attack Isle of Man View 22 Photos Motorsports Subaru

Subaru WRX STI might finally get power bump for 2019

Since it arrived in the US, the Subaru WRX STI has hovered around 300 horsepower. That was world-class in the early 2000s, but the 2018 model's 2.5-liter turbocharged boxer-four 305 horsepower output is no longer something to write home about. This week, The Truth About Cars reported that the hottest Impreza might get another slight bump. A NHTSA document lists the 2019 model at all of 310 horsepower, the same output as the limited-run WRX STI Type RA. If you thought the $50,000 Type RA wasn't worth the extra cash, at least the standard model will get the 5 horsepower bump now, too. That's more than the 292 horsepower Volkswagen Golf R or the 306 horsepower Honda Civic Type R, but it's way off the 350 horsepower output of the Ford Focus RS. According to the NHTSA filing, there's no power increase mentioned for the non-STI Subaru WRX. We're hoping the next generation WRX STI will finally shed the old EJ-series boxer-four in favor of a more modern and more powerful engine. The standard Impreza was updated in 2016, and the performance variants usually follow a few years later. Cross your fingers that a new version of the WRX wagon comes along, too. Related Video: Related Gallery 2018 Subaru WRX STI Type RA: First Drive View 51 Photos News Source: The Truth About Cars Subaru Performance Sedan subaru sti