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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.

Mark Higgins sets new Isle of Man record in Subaru STI

Subaru has done it again, setting a new four-wheel lap record around the 37.75-mile TT Mountain Course at the Isle of Man. Mark Higgins in a 2015 WRX STI rocketed through the country roads at an average speed of 116.40 miles per hour to circle the track in 19 minutes, 26 seconds, thereby beating his previous record of 19 minutes 56.7 seconds from 2011 in an STI.
According to Subaru, speeds during the lap ranged from as little as 30 mph to over 160 mph. The STI was mostly stock with the only major mechanical change being different springs and dampers to handle the course's famous bumps at such sustained high speeds. For safety, it also had a rollcage, racing harness, and fire suppression system.
"It was quite a lap we did today and I am really happy to have another record in the bank. The chassis of the new car is so much better it really allowed me to pick up time in each sector in the more technical parts of the course," said Higgins about the run in the Subaru.

Subaru calls Forester Ultimate Customised Kit Special edition 'an unfortunate situation'

UPDATE: Subaru of America reportedly found it necessary to disavow itself from the Forester Ultimate Customised Kit Special edition that was displayed at this year's Singapore Motor Show. According to The Drive, the automaker sent a letter to its American dealership network to explain that it "had nothing to do with this" and that "it obviously goes without saying that this car will not be available in the United States market." Lead image courtesy of imgur. Subaru likely brought several serious concepts to this year's Singapore Motor Show. We sincerely hope that this is not one of them.  Meet the Forester Ultimate Customised Kit Special edition (little "e"). If you're old enough to be on the Internet, you certainly know exactly where this is going, and it's not anywhere appropriate.  In this lighting, it's hard to tell, but the F***S edition appears to be finished in Subaru's World Rally Blue, and the pin-striping is very likely STI's signature cherry blossom pink, but we frankly cannot tear our eyes away from the podium, which is emblazoned with the custom Forester's name. As Top Gear Philippines points out, it's otherwise a fairly generic show car. From the body kit that gives it a low-slung attitude to the custom paint work, nothing about the F***S edition appears out of the ordinary. It's even rocking a set of 20-inch Enkei wheels over yellow brake calipers.  We're not sure what exactly is going on under the hood, but we wouldn't be surprised to find the normal host of bolt-on factory and aftermarket power-adders, or maybe even a full-blown STI powertrain just for extra cred.  Inside, it has yet more of the trappings of a run-of-the-mill SEMA build. A huge touchscreen up front controls a custom audio system backed up by Focal amplifiers and a subwoofer. There's custom blue ambient lighting in the front cabin and a set of tablet-style monitors for rear passenger entertainment.  The execution leads us to believe that either its builders had no clue, or they simply gave no... well... you know.