Subaru Corporation today in Tokyo announced its consolidated financial results for the first half of the Japanese fiscal year ending 31 March 2023. During April through September 2022, production constraints continued due to the global shortage of semiconductors, however global production increased 24.5% to 425,000 units as plans were “flexibly adjusted.”
Production in Japan rose 29.9% to 283,000 units, while production in the U.S. grew 15.0% to 143,000 units. As a result of increased production, global vehicle sales increased 6.2% to 399,000 units, led especially by Subaru’s key US market. Due to the effects of foreign exchange rates, the growth in vehicle sales, and other factors, consolidated revenue rose 30.5% to 1,750.9 billion yen*.
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Mixed Economic Signals in October US Vehicle Sales
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Now that the final number are in, new US light-vehicle sales in October 2022 showed a Seasonally Adjusted Annual Selling Rate (SAAR) of 14.9 million units, the second-highest monthly total this year. It was up 12.7% compared to October 2021 and increase 9.8% from September 2022.
The average transaction price in October, according to J.D. Power, is forecast to be $45,599, a 2.7% increase year-over-year. However, this is only off $26 from September. The old economist’s adage that prices are sticky downward applies we think. Transaction price highs of +$46,000 were experienced during July and August. Continue reading →