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Subaru boosting US capacity thanks to strong sales

It is very, very good to be Subaru right now. The company is rolling, with its global operating profits increasing 21 percent last quarter. While part of that is due to favorable currency conditions, the simple fact is that Subaru is selling a hell of a lot of cars, particularly in North America. The company's North American branch is expected to hit its sales goal of 600,000 units per year five years ahead of schedule, after moving 570,000 units in the recently completed fiscal year (remember, the Japanese fiscal year runs from April 1 to March 31). Last quarter alone, Subaru NA saw a 12 percent increase in sales, significantly more than either the company's home market or the increasingly vital Chinese market, where sales declined by one and 14 percent, respectively. With such promising results, it's no surprise that Fuji Heavy Industries President Yasuyuki Yoshinaga announced plans to bump up production at the company's Indiana factory. Yoshinaga-san is pushing for annual capacity of 394,000 units by the end of calendar year 2016, Automotive News reports, adding that inventory levels in the US are too low. "If only we had more cars, we could be selling more," Yoshinaga told AN during a news conference. FHI's previous plans for the factory were much less aggressive. Originally, production would be expanded to 328,000 units by 2017, AN reports, with an eye towards a full 400,000 units per year by 2021. With 394,000 rolling out of the Lafayette, IN factory by next year, though, it's clear how keen Subaru is to take advantage of such strong demand. News Source: Automotive News - sub. req.Image Credit: Dave Umberger / Associated Press Earnings/Financials Subaru sales fuji heavy industries

2015-18 Subaru Foresters recalled because front airbag may not deploy

Subaru is recalling 366,282 Foresters from model years 2015-18 because the front passenger airbag may not go off when it should during a crash. The problem stems from Subaru’s “Occupant Detection System,” which may not be able to detect a person sitting in the seat due to a loose connection. ThereÂ’s an electrical connection under the passenger seat that may loosen over time, according to Subaru. That connection is necessary for the detection system to function. Subaru says that only cars equipped with heated front seats are subject to this recall, as those are the only ones equipped with the specific harness where this would be possible. If your Forester is experiencing this problem, Subaru says you may see the “airbag warning” light illuminate on your dash. The “Passenger airbag off” indicator will also be illuminated, so that makes two different lights to check to see if your airbag is working. In turn, the seat wonÂ’t recognize the presence of a person in the front passenger seat, and the airbag may not deploy in a crash. Subaru will inspect the vehicles it recalls and replace the sensor mat harness if necessary. If you own a 2015-2018 Forester with heated front seats, look out for a note in the mail informing you of a recall. YouÂ’ll need to take the car in to the dealer, where the recall work will be done free of charge. As of now, Subaru isnÂ’t aware of any injuries or fatalities associated with this problem.

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.