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Toyota to boost its Subaru stake to more than 20%

TOKYO — Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, a deal that would also see the smaller firm invest in Japan's top automaker, two people with direct knowledge of the matter said on Friday. The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public. The investment would come a month after Toyota and another smaller Japanese automaker, Suzuki, said they would take small equity stakes in each other. Such tie-ups highlight how automakers are scrambling to chase scale, manage costs and boost development. Traditional car makers, especially smaller ones like Subaru and Suzuki, are struggling to meet the fast pace of change in an industry being transformed by the rise of electric vehicles, ride hailing and autonomous driving. Toyota's investment is likely to cost more than 70 billion yen ($650 million) based on Subaru's stock market value, said the Nikkei business daily, which first reported the news. Subaru is likely to reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of the people told Reuters. The companies have long worked together on projects such as the Toyota 86 and Subaru BRZ twins. At one time, Subaru built Toyota Camrys in its Indiana plant. Representatives for both Toyota and Subaru said the news was not something that had been announced by their companies. "The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a 'mega Toyota.' This is the first step towards that," said Takeshi Miyao, managing director of Carnorama, a consultancy. "It's all about building scale." Subaru is particularly strong in sport-utility vehicles (SUV) and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs. Car markers around the world have been joining forces to slash development and manufacturing costs of new technology. Ford Motor Co and Volkswagen AG have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Toyota seems to be particularly keen to build scale now by investing in smaller, domestic automakers, rather than forging cross-border tie-ups like some of its rivals.

Consumer Reports says infotainment systems 'growing first-year reliability plague'

The Consumer Reports Annual Auto Reliability Survey (right) is out, and the top two spots look much the same as last year's list with Lexus and Toyota in first and second place, respectively. However, there are some major shakeups for 2014, with Acura plunging eight spots from third in 2013 to 11th this year, and Mazda replaces it on the lowest step of the podium. Honda and Audi round out the top five. This year's list includes six Japanese brands in the top 10, two Europeans, one America and one Korean.
Acura isn't the only one taking a tumble, though. Infiniti is the biggest loser this year by dropping 14 spots to 20th place. Other big losses come from Mercedes-Benz with an 11-place fall to 24th, and GMC, which declines 10 positions to 19th.
Perhaps unsurprisingly, it's not traditional mechanical bugs hauling down these automaker's reliability scores. Instead, pesky problems with infotainment systems are taking a series toll on the rankings. According to Consumer Reports, complaints about "in-car electronics" were the most grumbled about element in new cars. Problem areas included things like unresponsive touchscreens, issues pairing phones and multi-use controllers that refused to work right.

Prototype Subaru Impreza 22B emerges from obscurity

Ask a gearhead what they think is the greatest Subaru built and the answer is probably something related to rally Imprezas – unless you're talking to a more quirky sort who'd throw out the SVX, XT or the bed-mounted jump seats of a Brat. But in any case, the 1990s rally Subarus are great, their road-going versions are brilliant and the rarest of all is the bulging 22B, which commands strong money due to its very limited availability. The Impreza 22B, reportedly named so for its 2.2-liter turbo boxer, but which also refers to the hexadecimal value of 555, Subaru's rally sponsor, was a widebody special with a bigger engine and more STI magic than other WRX variants. Officially it had 280 horsepower, but almost every Japanese performance car was advertised with that amount at the time – true figures take a dyno run or a dedicated mind to uncover. In addition to the modified body, the suspension was 22B-specific, as was the aero. The 2,800-pound 22B took just 5 seconds to hit 60 mph, a strong feat for 1998, and on the right road with the right kind of driver it is likely to be unparalleled for its era. As rare as any 22B is, there are also Subaru-built prototype cars that weren't part of the initial 400-car Japanese production run or the official 16-unit UK-bound batch, or the five Australian market cars. Some sources say there were 424 22Bs made, some mention a different number, and the prototypes are understandably the most coveted, least obtainable ones. Which brings us to this car currently for sale, which just so happens to be one of three known "000/400" series prototypes with just 55 kilometers (34 miles) on the digital odometer. Is this an actual wheeled unicorn? Contempo Concept, the Hong Kong-based dealer that also stocked the Miata Roadster Coupe we featured, has provided precious little information about this particular car, other than some very good sales photos that show the 22B in mint condition, complete with the 000/400 prototype plaque. There's no mention of the price – this Subaru is likely to have entered the "If you must ask, you cannot afford it" class of cars. It's not immediately obvious whether its prototype status would make it difficult, if impossible to register on the road, and/or if the low odometer reading is due to the car being more of a display item in the legal sense. 22B values have risen sharply during the past decades, and the prototypes will be the most expensive.