Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Achieving Efficiency?
A look at on-road fuel economy changes over 92 years.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.