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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.

2017 Subaru Forester has new face, better EyeSight, torque vectoring

The Forester was Subaru's best-selling vehicle in the US last year, and holds that title so far in 2016. With stiff competition in the crossover segment, though, Subaru isn't resting on that success. A refresh to the Forester for the 2017 model year adds more tech, and updated face, and a quieter interior. Plus you can now get torque vectoring on the 2.0-liter turbo, just like in the Impreza WRX and STI. The updated Forester arrives at dealerships in July. Most significant among the updates is a an upgrade to Subaru's Eyesight safety system. Eyesight uses two cameras in the windshield to read the road ahead and provide emergency braking and adaptive cruise control. With the new model year the system now uses color cameras with a winder and longer field of view. The tech suite includes Lane Keep Assist, and higher trims benefit from additional improvements like High Beam Assist, Steering Responsive Headlights, and Reverse Automatic Braking, which can automatically stop the CUV if it detects an obstruction behind the car. The 2017 Forester's design tweaks are minor but attractive. The new grille features horizontal bars, and the updated front fascia for naturally aspirated models has a larger body-color section around the air dam. The headlights feature C-shaped LED running lights, too. Riding in the Forester should be quieter thanks to thicker door glass, new seals, additional under-floor insulation, and an acoustic glass windshield. There's also a redesigned steering wheel, and it's even heated on the Touring trim. Customers can still choose between a 170-horsepower naturally aspirated 2.5-liter four cylinder or a 250-horsepower 2.0-liter turbo four. Subaru worked some engineering magic on the 2.5 and upped the fuel economy 26 miles per gallon city, 32 mpg highway, and 28 mpg combined – gains of 2 mpg city and 1 mpg combined. Subaru's venerable all-wheel drive layout also now includes Active Torque Vectoring on the Forester 2.0XT Touring with EyeSight for even sharper handling. Related Video: 2017 SUBARU FORESTER OFFERS ADVANCED SAFETY FEATURES AND GREATER COMFORT AND PERFORMANCE April 14, 2016 New Driver Assist Technology Improved MPG Upgraded Comfort and Style Turbo Model Now Features Torque Vectoring Cherry Hill, N.J. - Subaru of America, Inc. today announced a comprehensive update to the 2017 Forester including revised styling, new driver assist technology, more interior comfort, enhanced driving performance, and better fuel economy.

2018 Crosstrek propels Subaru to best-ever April sales

April was a dismal month for most automakers, with sales declines that ranged from 4.7 percent for Ford to a whopping 28 percent for Nissan. So here comes mighty little Subaru, which claimed the month as the best April in its history. The gain is entirely attributable to the Crosstrek, which is all-new for 2018. Sales of the compact, raised crossover climbed almost 70 percent for the month to 12,266. Year to date, Subaru has sold 45,728 Crosstreks, an increase of 66.6 percent. That helped push Subaru's total U.S. sales to 53,170 in April and 202,873 for the first four months of 2018, increases of 1.5 percent and 3.2 percent, respectively. It also marks 77 consecutive months of yearly month-over-month growth for Subaru. All other models saw declining sales for April, led by the Impreza, which was down 27.4 percent. "Our customers' interest in the Crosstrek continues to increase every month," Jeff Walters, senior vice president of sales, said in a statement. "We're now looking forward to the start of production later this month of the all-new Subaru Ascent at our plant in Indiana." The 2018 version of the Crosstrek went on sale last August featuring a new 2.0-liter flat-four engine, stiff new chassis, more ground clearance and the EyeSight suite of safety technologies, among other changes. But the Crosstrek has been on a hot streak for a few years now, with sales up 15.1 percent in 2017 and 6.7 percent in 2016. The Crosstrek is Subaru's third top-selling model behind the Forester and Outback. Subaru spokesman Dominick Infante says the company did not see the sales trail-off last year that's typical of a vehicle at the end of its lifecycle with the Crosstrek. "It was essentially a straight line going up, and it was limited by production," he said. The difference, he said, is that Subaru is now able to make more of them. The company last year shifted production of the Impreza to its plant in Lafayette, Ind., to free up capacity to build more Crosstreks at its plant in Gunma Prefecture, Japan, which underwent a major retooling. The Indiana plant now builds the Impreza, Legacy and Outback after the expiration of a contract in 2016 with Toyota to build 100,000 Camry sedans annually. Production of the new three-row Ascent crossover will start in Indiana in May, following a $140 million expansion at the plant, according to Automotive News. The vehicle is due in showrooms in June, Infante said, with sales of 60,000 expected in the first year.