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Subaru CEO expects record U.S. sales in 2020 despite market slowdown

TOKYO  - Subaru expects its U.S. vehicle sales to rise to a record high in 2020, as demand for its crossover models helps it buck the trend of slowing car sales in the Japanese automaker's biggest market. The company has been growing rapidly in the United States, the world's No. 2 auto market, roughly doubling the number of vehicles sold over the past six years, thanks in part to a ramp-up in local production capacity and a marketing strategy focused mainly on affluent and liberal-minded consumers. Japan's smallest automaker said that ongoing U.S. demand for its Forester and Outback models would likely boost overall sales in the country to 720,000 to 730,000 units next year, up by as much as 4.3% from the around 700,000 vehicles it expects to sell by the end of this year. "We expect the U.S. market to slow only slightly next year, so we're planning to see more growth in our sales. We think we can achieve this," CEO Tomomi Nakamura told reporters in Tokyo. He added that he saw room for the automaker to expand its share of the SUV market, which stands at around 7% at the moment, given that Subaru's SUV models outsell its Legacy and Impreza sedan models. "If competition in the U.S. SUV market continues, that segment will keep growing even as the overall market slows," he said. U.S. sales account for around 65% of Subaru's total global sales of around 1 million units. By the end of November, sales of the Forester this year had climbed 6.4% from a year ago, while sales of the Outback, its best-selling model in the country, were up 0.9%. However, the rapid growth in the country has coincided with a jump in global quality-related issues which has sapped profitability in the past year or so. (Reporting by Maki Shiraki; writing by Naomi Tajitsu; Editing by Kirsten Donovan) Earnings/Financials Subaru Crossover SUV

2020 Subaru Outback First Drive Review | The big payoff

NEWPORT, Calif. — The 2020 Subaru Outback marks the sixth generation of a vehicle, first introduced for 1994, that is in no small part the lynchpin to its companyÂ’s current success. The Outback's sales have increased in every generation, with more than 700,000 sold in the most recent generation that started with the 2015 model year. Subaru doesnÂ’t expect things to slow down as it introduces the all-new 2020 Outback, which has undergone a major overhaul despite its familiar sheetmetal. The Outback has moved to the Subaru Global Platform (SGP), joining the Impreza and Forester on lighter, stiffer, and stronger underpinnings. If the 2019 Forester is any indication of how the SGP can improve a vehicle, this would mean the new Outback will also be calmer, quieter and more refined. Staging from the Inn at Newport Ranch on Northern CaliforniaÂ’s “Lost Coast,” with a day full of driving both on- and off-road, we were about to find out for ourselves if this would live up to our expectations. Our first driving stint was in an Outback Touring equipped with the lesser of two available engines. The naturally aspirated 2.5-liter boxer-four, with 182 horsepower and 176 pound-feet of torque, feels perfectly adequate for the driving we did at or near sea level, and climbs competently on steep grades. While it didnÂ’t perform passing maneuvers with a sense of urgency, we still felt comfortable overtaking slower vehicles when we had to. For daily driving somewhere like the California coast, or the suburbs of the Detroit, the more economical 2.5 (26 mpg city, 33 highway, 29 combined) would be our choice to live with. This is mated to a CVT, one programmed to “shift” like a traditional automatic, staying out of its own way, and providing a nice linear pull — without a rubber band type of feel — when you need to climb a hill. Paddle shifters on the back of the wheel give you a sense of more control, if thatÂ’s something you need. We rarely used them. If you live at higher elevations, need to tow up to 3,500 pounds, or just really miss the days of a turbocharged Outback, thereÂ’s now a 2.4-liter turbo-four available in the resurrected XT models. You sacrifice some fuel economy — 3 mpg across the board, 23/30/26 mpg — but get a significant power boost, with hardly any turbo lag and satisfying response. WeÂ’re certain customers whoÂ’ve graduated from the likes of a WRX to something that can better accommodate kids and dogs will appreciate the boost.

Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.