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Toyota to boost its Subaru stake to more than 20%

TOKYO — Toyota Motor Corp plans to raise its stake in Subaru Corp to more than 20% from around 17% now, a deal that would also see the smaller firm invest in Japan's top automaker, two people with direct knowledge of the matter said on Friday. The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public. The investment would come a month after Toyota and another smaller Japanese automaker, Suzuki, said they would take small equity stakes in each other. Such tie-ups highlight how automakers are scrambling to chase scale, manage costs and boost development. Traditional car makers, especially smaller ones like Subaru and Suzuki, are struggling to meet the fast pace of change in an industry being transformed by the rise of electric vehicles, ride hailing and autonomous driving. Toyota's investment is likely to cost more than 70 billion yen ($650 million) based on Subaru's stock market value, said the Nikkei business daily, which first reported the news. Subaru is likely to reciprocate with a stake in Toyota that would roughly equal the value of Toyota's additional investment, one of the people told Reuters. The companies have long worked together on projects such as the Toyota 86 and Subaru BRZ twins. At one time, Subaru built Toyota Camrys in its Indiana plant. Representatives for both Toyota and Subaru said the news was not something that had been announced by their companies. "The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a 'mega Toyota.' This is the first step towards that," said Takeshi Miyao, managing director of Carnorama, a consultancy. "It's all about building scale." Subaru is particularly strong in sport-utility vehicles (SUV) and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs. Car markers around the world have been joining forces to slash development and manufacturing costs of new technology. Ford Motor Co and Volkswagen AG have said they will spend billions of dollars to jointly develop electric and self-driving vehicles. Toyota seems to be particularly keen to build scale now by investing in smaller, domestic automakers, rather than forging cross-border tie-ups like some of its rivals.

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.

2019 Subaru Ascent First Drive Review | A three-row do-over

McMINNVILLE, Ore. — The brand-new 2019 Subaru Ascent could very well be called the Mulligan. You may have heard the term used by amateur golfers as a sort of do-over for an egregiously bad first shot. But in the case of the Ascent, Subaru's largest-ever vehicle, it means that the Japanese automaker gets one more chance to build a successful three-row crossover for America. Instead of trying to forget the unloved and slow-selling Tribeca, we get the sense that Subaru wants to keep that massive failure at the top of its collective mind. And we also got the sense that Subaru's engineers and product planners are confident that this time, they've hit a perfect drive off the tee — if not at Pebble Beach, then at least at one of the thousands of reasonably priced golf courses dotting the landscape of suburban America. All the pieces of the crossover puzzle are in place: seven- and eight-passenger seating options, a sizable cargo area, standard all-wheel drive, and class-appropriate fuel mileage estimates. But, this being a Subaru, the manner with which the Ascent hits its targets varies a great deal from many of its competitors. In place of a naturally-aspirated V6, as found in the Honda Pilot or Toyota Highlander, is a turbocharged four-cylinder. And instead of sleek styling meant to attract eyeballs at the expense of usability, the Ascent is boxy, upright, and, well, kinda boring. In person, the Ascent looks like an Outback-shaped balloon that's been blown up a bit too much. An oversize grille is flanked by big headlights at the top of the fascia and faux air intakes molded from matte black plastic at the bottom. It's bland, sure, but it's also not at all surprising that Subaru would err on the side of inoffensive after the design tragedy that was the face of the original B9 Tribeca. And while it definitely shares a strong family resemblance to the Outback, it's sufficiently different enough that buyers aren't likely to confuse the two on the showroom floor. There are some interesting creases and bends in the Ascent's bodysides that add visual interest to what would otherwise be big, flat, sheetmetal stampings. And we have to commend Subaru for its restrained use of plastic underbody cladding, especially since the original Outback helped popularize that trend in the mid-1990s. There's a reasonable glass-to-metal ratio that helps the interior cabin feel airy and bright. Getting into the Ascent's third row is made easier by a large, squared off rear door.