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Subaru, Mazda profits dip; both blame exchange rates

While some larger automakers took a beating on Q4 earnings, some of Japan's smaller operations managed to keep their heads just above water despite currency issues and slumping sales industry-wide. Subaru, which capped off its 11th consecutive year of U.S. sales increases, reported a 42-percent drop in operating profit in the final quarter of 2019; Mazda, which operates on an even smaller scale, saw a 76-percent drop.  Per Automotive News, both companies faced challenges apart from navigating currency exchanges.  Subaru Subaru's 2019 was marred by warranty costs stemming from repairs on high-volume models, including the Impreza and Crosstrek. Despite the drop in profit, company revenues only slid 2.3 percent. The company also says that it has managed to curtail incentive spending, largely thanks to replacement models that needed less help moving out of showrooms.  America remained a bright spot, with 2019 sales volumes increasing by nearly 3 percent over 2018. Subaru is hoping that figure will increase to 4.0 percent in 2020. Subaru's wholesale deliveries also increased in western Europe, but dropped precipitously (28 percent) in the company's home market.  Mazda The smaller Mazda faced similar challenges, but its 2019 lacked some of Subaru's more dramatic bright spots. Worldwide shipments of new vehicles dropped by 8 percent, aiding a revenue decline of 5 percent. Mazda's vehicles remained profitable on a per-unit basis, but only just.  Mazda has been undergoing aggressive cost-cutting measures, but even those were no match for reduced volumes and unattractive currency exchange rates.  Despite these challenges, both companies are keeping their earnings outlooks unchanged. The fourth quarter of 2019 represented the third quarter in both companies' fiscal years, which will end in March.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Subaru WRX STI S209 | POV Drive

Volvo's EX30 woes, Rivian's big deal and the return of 'Crazy Taxi' | Autoblog Podcast #839

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Byron Hurd for a tight episode sure to make your holiday travel that much more vehicularly simulating. They start off with some updates on their recent drives. Greg has been in the 2024 Range Rover Velar and the 2024 Mercedes-Benz EQE SUV. Meanwhile, Byron just got the long-term 2023 Subaru WRX back from the shop with a pile of STI accessories installed — including a boomy new exhaust system! After that, it's on to news. The big items this week are the latest from Rivian, Volvo's EX30 launch drama and the return of an old-school automotive video game franchise: Crazy Taxi! After that, it's time to spend your money — with a twist! Autoblog Podcast #839   Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Volvo's European EX30 launch plagued by software issues, refunds Rivian's big deal Crazy Taxi returns! What we're driving Mercedes-Benz EQE SUV Range Rover Velar Long-term 2023 Subaru WRX Spend my money! Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Podcasts Toys/Games Land Rover Mercedes-Benz Subaru Volvo SUV Hybrid Luxury Rivian

Subaru makes Indiana proud by sponsoring 'Parks and Rec' coronavirus reunion

On April 23, NBC Universal announced the return of modern comedy classic "Parks and Recreation" for a special one-time reunion to help raise money for the Feeding America COVID-19 Response Fund. Joining the good-spirited event, Subaru announced this week it would help sponsor the special by matching donations up to $150,000. The all-new show will air Thursday, April 30, at 8:30 p.m. ET, and donations can be made through FeedingAmerica.org. For 30 minutes, fans of Leslie Knope and her trusty crew of buddies will have the chance to temporarily escape the current stressful times caused by the coronavirus and COVID-19 pandemic. The show was filmed from the actors' houses and will adopt a theme set by current times. "Leslie Knope is determined to stay connected to her friends in a time of social distancing," an NBC press release says. All of the original characters will return for the special, including Amy Poehler as Knope, Nick Offerman as Ron Swanson, Aziz Ansari as Tom Haverford, Rashida Jones as Ann Perkins, Aubrey Plaza as April Ludgate, Chris Pratt as Andy Dwyer, Adam Scott as Ben Wyatt, Rob Lowe as Chris Traeger, Retta as Donna Meagle, and Jim O'Heir as Terry Garry Jerry Gergich.  “We were looking for ways to help and felt that bringing these characters back for a night could raise some money,” executive producer Michael Schur said in the release. “I sent a hopeful email to the cast, and they all got back to me within 45 minutes. Our old ‘Parks and RecÂ’ team has put together one more 30-minute slice of (quarantined) Pawnee life, and we hope everyone enjoys it. And donates!” For those who are unaware, "Parks and Recreation" is set in the fictional small-town of Pawnee, Indiana. So, it makes sense that Subaru, a company with a manufacturing plant in the heart of Indiana, would pitch in. Subaru and State Farm will join NBCUniversal, as well as the writers, producers, and cast of "Parks and Rec," in matching donations collected until May 21. Subaru will match donations up to $150,000, as will State Farm, for a potential total of up to $500,000 in matched donations. The donation comes after Subaru previously committed to providing Feeding America with 50 million meals for COVID-19 relief. By the organization's standards, $1 can provide up to 10 meals. Donate at FeedingAmerica.org and watch the show April 30. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.