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U.S. Sales Drive Subaru’s 18% Operating Profit Jump
Subaru Corp. hiked April-June revenue 11% to 855 billion yen ($7.7 billion) as unit sales climbed 11% to 271,300 vehicles.
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Subaru Corp. hiked April-June revenue 11% to 855 billion yen ($7.7 billion) as unit sales climbed 11% to 271,300 vehicles.
The carmaker’s operating income jumped 18% to 119 billion yen ($1.1 billion). Net income advanced 4% to 82 billion yen ($743 million).
North America generates about 70% of Subaru’s global sales. U.S. demand for the company’s crossover-heavy product lineup during the quarter rose 9% to 160,500 units in an overall market that shrank 3%.
Subaru’s sales also climbed 30% to 40,500 units in Japan. Volumes fell in Europe and China.
The company predicts its worldwide sales will grow 4% to 1.1 million units in the fiscal year ending next March 31, aided by a 3% gain in the U.S.
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