Posted Monday, February 7, 2022 at 10:25pm
Subaru announced its third-quarter financial results and it looks like the chip crisis has kicked its ass. Profits are down by 66 percent, output by 20 percent, and sales by 35. All that and more in The Morning Shift for February 7, 2022.
In contrast to companies like Toyota, the chip crisis is not treating little Subaru all that kindly, as Automotive News reports. Profits, sales, and sales outlook are way down in the third quarter, per AN:
Subaru Corp.’s operating profit dropped 66 percent to 22.7 billion yen ($197.2 million) in the fiscal third quarter ended Dec. 31, the automaker said in a statement on Monday.
