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Subaru cuts annual profit outlook on strength of yen, typhoon impact

TOKYO — Subaru lowered its annual profit forecast on expectations of a stronger yen and the impact on production from a typhoon last month, driving its shares down as much as 4.5%. Japan's smallest major automaker, one fifth of which is owned by top-ranked Toyota, cut its forecast for operating profit to 220 billion yen ($2 billion) for the year ending March 2020, from a previous forecast of 260 billion yen. Subaru revised its forecast for the yen to average 107 versus the dollar over the period, from 110 previously. A stronger currency eats into profits because cars exported from Japan become more expensive and the value of earnings made overseas decreases. The United States is Subaru's biggest market, accounting for about 60% of overall sales. Typhoon Hagibis forced Subaru to halt production at its factories in Gumna, north of Tokyo, for more than a week in October due to supply chain disruptions. The stoppage, which lasted until Oct. 25, resulted in lost production of 11,000 vehicles, Chief Executive Officer Tomomi Nakamura told a briefing in Tokyo on Wednesday. Hagibis was the worst typhoon to hit Japan in decades, leaving at least 80 people dead, according to national broadcaster NHK. "We have restarted production, but we couldn't return to full capacity immediately," Nakamura said. "Some of our suppliers' factories were completely submerged." Subaru also said vehicle sales rose nearly 20% in the first half of the fiscal year compared with a year earlier, driven almost entirely by an improvement in the United States amid strong demand for the Forester SUV crossover. Subaru shares were down 1% at 3,102 yen by 0440 GMT, after touching a low of 2,995.5 yen earlier.

Mazda, Mitsubishi, and Subaru expand global Takata recalls by 715k [UPDATE]

UPDATE: Subaru of America spokesperson Michael McHale tells Autoblog that the company is recalling 78,000 Imprezas from the 2004 and 2005 model years in the US. This is a national expansion of the company's previous regional recall for the Impreza. The Takata airbag inflator recall just keeps growing. The latest expansion encompasses 715,000 vehicles from Mazda, Mitsubishi, and Subaru. Many of the affected models are in Japan. The largest expansion from these three automakers comes from Mitsubishi. According to Reuters, the company is adding 100,000 vehicles in Japan and 412,000 outside of the country without identifying any specific regions. Mazda is issuing safety campaigns for 112,000 vehicles in Japan, and some of these include models that the company produces there for Mitsubishi and Nissan, according to Reuters. In statement to Autoblog (embedded below), Mazda said that it is still evaluating the situation in terms of a possible effect on the US. Finally, Subaru is calling in 91,000 Imprezas in Japan. At this time, it isn't clear whether Mitsubishi's or Subaru's expansions affect the United States, but Autoblog has reached out to them for more information. According to research by the National Highway Traffic Safety Administration, exposure to moisture can cause the propellant in these inflators to ignite too quickly and cause these dangerous ruptures. Takata has also been investigating the problem. Related Video: Mazda statement "We are aware of the NHTSA/Takata announcement, and are evaluating the effects of it on Mazda. As soon as we have had a chance to fully evaluate the situation – number of vehicles affected, age of those vehicles, where they're located, etc. – we will be able to share those details."

Subaru is bringing a trio of STI concepts to the Tokyo Auto Salon

The Tokyo Auto Salon is almost upon us (or our Japanese counterparts at any rate), and Subaru has no intention of sitting it out. To that end, its performance division Subaru Tecnica International is preparing a slate of new show cars for the tuner expo. Of the trio that STI has in store for the show, the only one it is showing us so far is the STI Performance Concept pictured above – and we've already seen that one. Based on the BRZ and festooned with all manner of performance upgrades (and an enticing matte blue wrap), it was presented at the New York Auto Show this past April. But there are two more that we have not seen yet. Most intriguing is the proposed XV Hybrid STI Concept, but ostensibly combines the rugged approach of the XV Crosstrek – in hybrid spec no less – with the performance upgrades we've come to expect from the WRX STI. Where STI show cars typically appear in blue, this one is slated to appear in white with orange accents and an interior in orange and beige. It still promises a slew of aero enhancements, along with an upgraded suspension. Alongside the BRZ and XV concepts will be a Levorg STI as well, based on the wagon that Subaru sells in Japan and Europe. This one'll appear in WR Blue Pearl with a sportier front end, 18-inch alloys, specific dampers, and a two-tone interior in burgundy and black. Joining the concepts at the Subaru stand will be a quartet of racing models – two based on the BRZ and two on the WRX STI. Related Video: Exhibition Outline of Tokyo Auto Salon 2016 Tokyo, December 24, 2015 – Fuji Heavy Industries Ltd. (FHI), together with Subaru Tecnica International Inc. (STI)*1, announced its exhibition at the upcoming Tokyo Auto Salon 2016 with NAPAC (Japan Car Parts and Aftermarket Promotion Association), which will be held January 15th to 17th, 2016 at the Makuhari Messe in Chiba prefecture. At the Subaru booth will be concept models such as the "STI Performance Concept" which signifies STI's core business areas, "Levorg STI Concept" and "Subaru XV Hybrid STI Concept". The "WRX STI NBR Challenge 2016", a racing car for 24 Hours Nurburgring endurance race in 2016 and the "Subaru BRZ GT300 2016" for Super GT race will also be exhibited. At the press conference on January 15th, 2016 Subaru Motorsport Activities will be announced. The special site for Subaru Auto salon (http://www.subaru.jp/tas2016/) will be opened.