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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.

2019 Subaru Ascent Deep Dive | 15 fast facts, 3 rows of seats and 8 golden retrievers

The 2019 Subaru Ascent three-row crossover is a big deal — both in literal size and metaphorical importance. The large Subaru plugs a gap in the company's crossover lineup that hasn't been filled since the company's previous attempt, the B9 Tribeca, fell flat on its weird-looking face. And by "plugs a gap," we don't mean in terms of market segments. Rather, it fills a gap among Subaru's band of fiercely loyal customers. Currently, Subaru's Crosstrek, Forester and Outback serve young singles, couples and parents with recently arrived children. They also have older empty nester types who effectively "come back to us." But for those customers in their "child-raising years," they've had no choice but to leave the brand in favor of one that sells a larger, three-row model. They don't need the biggest thing around, but something larger than an Outback would be nice. It is for these people that the 2019 Ascent was created, a "right sized" crossover, according to Subaru, designed to deliver the high functionality and ease-of-use expected of the brand. It was "sized to overwhelm the Outback," which it most definitely does when viewed side-by-side, while still looking very much like the Outback. Really, the Ascent is intended to keep Subaru buyers in the family, so to speak. Any conquest buyers would seem to be gravy. Here are some other takeaways from our first look at the 2019 Subaru Ascent during its unveil last night prior to the L.A. Auto Show. — The Premium and Limited trim levels will provide customers with a free-of-charge choice of second-row bench (eight-passenger) and second-row captain's chairs (seven-passenger) configurations. This is unique in the industry, giving customers the option to outfit their Ascent in a way that best suits their family. Subaru expects the captain's chairs to be a bit more popular. — We have our doubts about Subaru's official cargo capacity figures. The published maximum cargo volume, which represents both the second and third rows folded, is a meager 72.8 cubic feet. That's actually less than the Outback (73.3) and the Forester (74.7)! That's also considerably less than other three-row crossovers like the Toyota Highlander, Ford Explorer and Honda Pilot. Having seen the Ascent in person, however, that's extremely hard to fathom. It doesn't look that small in the least. Far from it. It has a big, boxy interior with a third row that fit a pair of 6-footers behind a second pair of 6-footers in the second row.

2015 Subaru Legacy, Outback crash their way to IIHS Top Safety Pick+ ratings [w/video]

The Subaru Legacy and Outback are the latest vehicles to be awarded the Insurance Institute for Highway Safety's most prestigious safety title, Top Safety Pick+.
As we've explained many times before, this only applies vehicles that can score an "Acceptable" or "Good" rating on the five IIHS crash tests and earn at least a "Basic" rating for crash prevention systems.
In the Legacy's case, it totally aced IIHS's testing, earning "Good" scores on the small overlap, front moderate overlap, side impact, roof crush and rear impact tests, while also bringing home the top "Superior" rating for its optional EyeSight system.