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Subaru posts 15.7% rise in fill-year operating profit

TOKYO — Subaru on Monday posted a 15.7% rise in annual operating profit in the fiscal year that ended in March as it recovered from a raft of product recalls last year, but warned that sales of its cars would take a hit from the coronavirus outbreak. Profit rose to 210.3 billion yen ($1.96 billion) for the year just ended, from 181.7 billion yen a year earlier under international financial reporting standards. It exceeded a consensus estimate of 204.7 billion yen profit drawn from 17 analysts polled by Refinitiv. Global automakers are struggling to recover from the coronavirus, which has pummeled car sales as shelter-in-place orders in many countries clobbered car demand, while plant workers had been left unable to commute to work. Though Subaru and its rivals have begun to restart vehicle factories, anaemic demand, supply chain disruption and social distancing measures at factories are expected to limit output in the coming months. "We saw a limited impact of the coronavirus on our results for the year just ended," Chief Executive Tomomi Nakamura told a teleconference. "But although we have resumed production this month, we are only operating one shift in Japan, and the pace of U.S. output has slowed significantly ... we see many uncertainties related to the virus." As a result, the maker of the Outback and Forester SUV crossovers declined to give an earnings forecast for the current business year, while it slashed its year-end dividend for the year just ended by 61% to 28 yen per share. Some analysts believe industry-wide global auto sales could slump by a third this year and that any recovery will be slow and patchy as job losses and reduced incomes weigh on consumer spending. Subaru, which earns two-thirds of its vehicle sales from the United States, acknowledged that it may take a hit in the coming months as its biggest market struggles get the coronavirus pandemic under control. The automaker saw a 3% rise in global vehicle sales in the year to March to 1.03 million units, bouncing back from last year, when a defective steering component and measures to improve inspection tests had stopped output for two weeks at its sole assembly plant in Japan. The process to restart its U.S. plants would take time, Subaru said, and it expects to produce only around 5,000 units this month, a fraction of last year's 40,000. The virus would result in a global production hit of around 150,000 units, it added.

2017 Subaru BRZ First Drive

When the Subaru BRZ debuted in 2012, it was heralded as a return to the traditional Japanese sport coupe formula – a compact, lightweight, rear-wheel-drive runabout that hearkened back to greats like the original Toyota Celica, Mazda's RX-3, and the Nissan 240SX. Japan is covered in mountains, and that's where its enthusiasts honed their hooning. Cars that emphasize handling, not horsepower, make the most sense there. Now, five years on, Subaru is using the model's first facelift to further differentiate it from its Toyota cousin. The BRZ is Subaru's ultimate vision of a sophisticated driver's car, more string-backed gloves than flat-brimmed hat. To prove the point, Subaru invited us to drive the refreshed 2017 specimen, along with 2016 models for comparison, at Japan's legendary Fuji Speedway. The BRZ's revised styling makes the distinction painfully clear right off the bat. It now sports a squarer jawline, with a chin described by senior designer Yuki Kumono as aircraft-inspired. LED DRLs are embedded in the new headlamps, moved up from the space they once shared with fog lights. A side note for Subaru fans: The C-shaped DRLs are called "hawkeyes" internally, which is sure to cause confusion among Subarists who have already given that name to the 2006–07 Impreza WRX and STI. Freshened taillights and a reshaped spoiler update the badonk, and the Subie has new fender inserts. Styling is of course a subjective matter, but anyone who says the sea-creature maw of the post-Scion 2017 Toyota 86 is better looking is clearly wrong. Ultimately, though, the question on everybody's minds is, "Does the BRZ have any more danged power?" The answer to that is yes, technically, but only on certain cars. The 2.0-liter boxer four makes five more horsepower and five more pound-feet of torque only on manual-transmission cars. That brings the totals to 205 hp and 156 lb-ft. Cries for a turbocharger have gone stubbornly unanswered. In typical Japanese fashion, it's not the numbers that matter. Subaru has focused instead on the overall driving feel, that elusive metric that can't be expressed on a spec sheet or through the frothing internet comments of armchair racers. Subaru's engineers, some of whom are trained as the company's expert test drivers, have toiled away at a host of improvements for the base Premium trim, the upper Limited grade, and a new Performance Package that's available on top of the latter.

Subaru brings sportier XV, Legacy and Levorg concepts to Tokyo Auto Salon

'Tis the season of the auto shows, boys and girls. We just came down from the techno-fest that was CES, we're set for the start of the Detroit Auto Show, in the UK they're holding the Autosport International racecar show, and in Japan they just opened the Tokyo Auto Salon. And true to form, Subaru was on hand with a wide assortment of tuned machinery. Aside from the competition-spec WRX and BRZ we brought you a few days ago, Subaru also spruced up some of its production models for the street. One of the most intriguing was the Levorg S that gives us an idea of what the conceptual Legacy wagon would look like in STI spec, complete with the requisite blue paint, red trim and STI badges, but also a full aero kit, 19-inch BBS wheels and carbon-fiber trim, plus an interior with bucket seats, flat-bottom rim and all the fixins. The Japanese automaker also showcased a version of the Legacy sedan dubbed Blitzen, decked out in bright red with a similarly upgraded aero kit, 19-inch alloys and a two-tone interior. The XV Crosstrek that was recently launched on this side of the Pacific as a special edition in bright yellow rolled in to the Tokyo salon in the same shade, but with upgrades similar to those on the aforementioned Levorg and Legacy show cars. The XV Sport concept wears upgraded aero, 17-inch wheels and a complementing yellow-trimmed back interior. Also on display was an even less subtle WRX S4 customized by Prova, done up in white but with an outlandish body kit, 20-inch Enkei alloys and a dropped suspension, as well as the new Forester tS.