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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.

Consumer Reports no longer recommends Honda Civic

Consumer Reports annual Car Reliability Survey is out, and yes, there are some big surprises. First and foremost? The venerable publication no longer recommends the Honda Civic. In fact, aside from the walking-dead CR-Z and limited-release Clarity fuel-cell car, the Civic is the only Honda to miss out on CR's prestigious nod. At the opposite end there's a surprise as well – Toyota and Lexus remain the most reliable brands on the market, but Buick cracked the top three. That's up from seventh last year, and the first time for an American brand to stand on the Consumer Reports podium. Mazda's entire lineup earned Recommended checks as well. Consumer Reports dinged the Civic for its "infuriating" touch-screen radio, lack of driver lumbar adjustability, the limited selection of cars on dealer lots fitted with Honda's popular Sensing system, and the company's decision to offer LaneWatch instead of a full-tilt blind-spot monitoring system. Its score? A lowly 58. The Civic isn't the only surprise drop from CR's Recommended ranks. The Audi A3, Ford F-150, Subaru WRX/STI, and Volkswagen Jetta, GTI, and Passat all lost the Consumer Reports' checkmark. On the flipside, a number of popular vehicles graduated to the Recommended ranks, including the BMW X5, Chevrolet Camaro, Corvette, and Cruze, Hyundai Santa Fe, Porsche Macan, and Tesla Model S. Perhaps the biggest surprise is the hilariously recall-prone Ford Escape getting a Recommended check – considering the popularity of Ford's small crossover, this is likely a coup for the brand, as it puts the Escape on a level playing field with the Recommended Toyota RAV4, Honda CR-V, and Nissan Rogue. While Ford is probably happy to see CR promote the Escape, the list wasn't as kind for every brand. For example, of the entire Fiat Chrysler Automobiles catalog, the ancient Chrysler 300 was the only car to score a check – there wasn't a single Dodge, Fiat, Jeep, Maserati, or Ram on the list. That hurts. FCA isn't alone at the low end, either. GMC, Jaguar Land Rover, Mini, and Mitsubishi don't have a vehicle on CR's list between them, while brands like Mercedes-Benz, Volvo, Nissan, Lincoln, Infiniti, and Cadillac only have a few models each. You can check out Consumer Reports entire reliability roundup, even without a subscription, here.

Best. Year. Ever. Subaru breaks yearly and monthly sales records in 2017

After a generally good sales year for most car manufacturers, one company had a spectacular year: Subaru. The company reported with its end-of-year sales that 2017 was it's best sales year of all time. The total was 647,956 vehicles sold over the 12 months. Not only that, but December was also the best month of sales the company has ever seen with 63,342 cars sold. That's nearly 10 percent of the annual sales in one month. As far as individual models go, the Impreza and Crosstrek each had their best month in December and 2017 was each model's best year. The Impreza's year was especially impressive with sales jumping more than 55 percent compared with 2016. It was also the best year for Outback. Subaru credits some of its strong December to its "Share the Love" promotion that donated $250 of each new car purchase to one of a selection of charities. But a big part of Subaru's sales success has to be due to the fact that most of its products are in the hottest car market around: crossovers. The fact that its products are highly competitive against other similar vehicles certainly helps too. This is partly evident by the fact that year-to-year, every crossover model with the exception of the aging Forester saw a sales increase. Meanwhile, every traditional car (Legacy, WRX/STI and BRZ) with the exception of the redesigned Impreza had lower sales for the year. So if you ever wonder why companies aren't racing to release new sedans and coupes, this is why. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.