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Subaru cuts annual profit outlook on strength of yen, typhoon impact

TOKYO — Subaru lowered its annual profit forecast on expectations of a stronger yen and the impact on production from a typhoon last month, driving its shares down as much as 4.5%. Japan's smallest major automaker, one fifth of which is owned by top-ranked Toyota, cut its forecast for operating profit to 220 billion yen ($2 billion) for the year ending March 2020, from a previous forecast of 260 billion yen. Subaru revised its forecast for the yen to average 107 versus the dollar over the period, from 110 previously. A stronger currency eats into profits because cars exported from Japan become more expensive and the value of earnings made overseas decreases. The United States is Subaru's biggest market, accounting for about 60% of overall sales. Typhoon Hagibis forced Subaru to halt production at its factories in Gumna, north of Tokyo, for more than a week in October due to supply chain disruptions. The stoppage, which lasted until Oct. 25, resulted in lost production of 11,000 vehicles, Chief Executive Officer Tomomi Nakamura told a briefing in Tokyo on Wednesday. Hagibis was the worst typhoon to hit Japan in decades, leaving at least 80 people dead, according to national broadcaster NHK. "We have restarted production, but we couldn't return to full capacity immediately," Nakamura said. "Some of our suppliers' factories were completely submerged." Subaru also said vehicle sales rose nearly 20% in the first half of the fiscal year compared with a year earlier, driven almost entirely by an improvement in the United States amid strong demand for the Forester SUV crossover. Subaru shares were down 1% at 3,102 yen by 0440 GMT, after touching a low of 2,995.5 yen earlier.

Everything we know about the Subaru BRZ STI

May 30, 2017: It seems an STI-tuned Subaru BRZ was even closer than we thought. Subaru posted to its official Twitter page a teaser image of the upcoming car. It's a shot of the trunk lid with a big STI logo on the endplates. If that weren't enough confirmation of the car, the tweet included the hashtag "#STI." The only other information given was the date of June 8, 2017, and the promise of more information. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. May 23, 2017: Spy shots reveal our first look at a new STI-tuned Subaru BRZ, and it will likely come to the US. The reason we say this is that the car was spotted near a Subaru office in Ann Arbor, Michigan. We also know this is an STI badge because we can make out the distinctive logo underneath pieces of tape at the front and back. It features a huge wing that isn't found on any other BRZ, though the body kit appears to be the optional one available on regular models. There aren't any obvious signs of forced induction on the car either. No top-mounted intercooler scoops or front-mounted intercoolers are visible anywhere. We hope Subaru will give this car more power, but we're not optimistic, especially when the last STI-badged BRZ for Japan didn't get any power upgrades. April 1, 2015: Subaru reveals an amazing STI-tuned BRZ concept. Like the Subaru BRZ tS by STI, this STI Performance Concept has a huge rear wing, and subtle, functional-looking aerodynamic parts. Most importantly for BRZ fans, it also has a more powerful engine. Under the hood is a turbocharged 2.0-liter flat-four used by the GT300-class race car. It makes about 300 horsepower and 330 pound-feet of torque. However, Subaru said that it's unlikely a turbocharged model like this will come out soon. We expect that Subaru will first launch a tS-style BRZ in the near future, and possibly introduce a turbocharged BRZ variant with a new generation of the car. Subaru STI Performance Concept | 2015 NYIAS View 24 Photos April 19, 2013: Subaru announces the first STI-tuned BRZ, and it's not quite what we were hoping for. It's called the Subaru BRZ tS, and it has the same naturally aspirated engine, and thus, the same amount of horsepower. It's furnished with suspension upgrades, Brembo brakes, a front spoiler, and on the GT model, a big rear wing. Only 500 units will be made - and they're all for Japan. View 27 Photos

NHTSA releases updated Takata airbag recalled cars list, but it still has errors

Unfortunately, the government's list still contains errors.
The National Highway Traffic Safety Administration has issued an updated list of vehicle models that it's urging owners to repair under the mushrooming Takata airbag inflator recall. The latest version adds vehicles from new automakers like Subaru and Ford that are missing from the original announcement, and it also removes erroneous entries from General Motors, leaving only the 2005 Saab 9-2X (a reskinned Subaru WRX), and the 2003-2005 Pontiac Vibe, a joint project with Toyota.