You can't keep a winner down.
Subaru has been in the news recently for all of the wrong reasons. The Japanese automaker has slid down the reliability rankings amidst a number of quality control issues with its suppliers. it's also been forced to issue recalls on thousands of vehicles and due to a shortage of service staff, dealerships are having trouble tending to customer issues within a reasonable timeframe. The time and resources spent on recalls have clearly cut into Subaru's operating profit in 2019 but while all of this has gone on, the company has had several impressive milestones to celebrate.
Subaru just began production of the 2020 Legacy and Outback at its assembly plant in Indiana and the Outback just crossed the two million mark in sales. After a strong start to 2019, it finally looks like Subaru is in a better financial position according to the company's consolidated financial results.
Through the first half of 2019, Subaru sales increased by 8.8% to 263,000 units led by increased demand for the Ascent and Forrester models in the United States. Thanks to the increased demand, operating profit increased by 48.4% to 92.2 billion yen (around $869 million), which is a substantial increase over 2018's operating profit of 62.1 billion yen (around $585 million). Subaru predicts it will sell 1,058,000 vehicles in 2019 as it puts the recalls and quality issues behind it.
Subaru may have seen a rocky start to 2019 but the company seems to be in a good position to finish the year on a high note. Japan's smallest automaker finished at the top of the JD Power Brand Loyalty study, showing customers who buy a Subaru are likely to purchase another one. With redesigned versions of the Legacy and Outback arriving in dealerships, Subaru will have plenty of new products to offer existing customers who are looking for new vehicles.
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