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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 Viziv Performance Concept | Next WRX ... with driver assist?

VIZIV is a portmanteau, an invented moniker that Subaru has affixed to a series of concept cars it has shown over the past few years. The name is intended to combine the notions of vision and innovation inherent in these fantastical vehicles, which, like all concepts, presage a future that never comes. How else to describe a five-passenger, scissor-doored, diesel, hybrid, electric, all-wheel-drive, shooting brake? These reveries and chimeras have, in successive iterations, become a bit more ... realistic, or at least closer to the realm of possible. Witness the Viziv-7 shown last year at the L.A. Auto Show, quite clearly a near-production-ready preview of the brand's forthcoming three-row, seven-passenger crossover — and a long-expected replacement for the ghastly, Hercule Poirot-faced Tribeca from some years back. So what are we to make of the latest Viziv, the Viziv Performance Concept, just unveiled at the Tokyo Motor Show? A muscular, flare-fendered, four-door sport sedan, the VPC is, in Subaru's own words, intended to "deliver enjoyment and peace of mind" to its customers while evoking a design philosophy of "DYNAMIC x SOLID." [Subaru insists that it is not yelling, merely being emphatic.] The vehicle is also meant to integrate the latest in driver-assistance technology, built around Subaru's EyeSight distance cruise control and collision prevention system. It is surprisingly attractive, for a Subaru, which is to say, more than simply functional and unpretentious and rugged with a smattering of premium materials. It looks kind of French. "We utilize traditional Subaru shapes like the flared fenders and the hood scoop," says Mamoru Ishii, general manager of the design department's product planning division. "But we wanted to enhance the three-dimensional sculptural forms, to express more of the shadows." So it looks like a Subaru. But it also looks kind of ... fast. So is this thing the new WRX? Size and stature wise, that supposition would make sense. Especially since that model is now a wholly separate vehicle line spun off of the Impreza platform some years back and that the next generation is expected to reappear, in novel form and with its own identity, for the 2020 model year, making a conceptual appearance now timeline-proper. "It's a design study for a sport sedan, and WRX is one of them," says Ishii. "It's not so far from the next generation." Not so far away, but not so close.

Comedic Hasselhoff car ad leads to a dream job in Sweden

Last month a guy in Florida posted a homemade ad for his 1996 Nissan Maxima online and Nissan bought it from him. This month a guy in Sweden posted a homemade ad for his 1985 Subaru Justy J10 Trendy online and got a job with Swedish car magazine Auto Motor und Sport. When Nils Jangan relocated to a new city and couldn't get a job, the financial drain eventually demanded he get rid of his car. Looking for a way to convince anyone to purchase a 29-year-old hatchback, he enlisted the help of Mordor, Saruman and, naturally, David Hasselhoff giving the thumbs up.
The picture was accompanied by text describing the "Japanese mountain goat" that was "hand-forged" by "the Saruman of carmakers," and its "54 frighteningly well-hung horses." One of its other advertised features was "I.D.N.R.I.S" seat belts, the "Instant Death No Retardation Impact System" meaning the occupants would never have to worry about long-term care if they were "in any collision at speeds higher than 12 km/hour." He asked 10,000 kroner (about $1,500 US) for the beauty, but he was also willing to trade for a job.
After posting the ad on Blocket, a Swedish craigslist, and having it shared throughout the community, Jangan got a ton of interest in the car and a job offer from Auto Motor und Sport, which he accepted. As for the Subie, it ended up going to a local repair shop for just a few hundred kroner, but we imagine Jangan's gets a decent work-related loaner or two to make up for it.