Posted Thursday, February 8, 2024 at 9:50pm

Subaru lifts profit outlook as sales, earnings surge

Subaru’s quarterly profit surged 79 percent, as the automaker channeled robust U.S. sales to the bottom line for investment in electrification and other new technologies.

The upswing puts the all-wheel-drive niche player on trajectory for its best fiscal-year earnings in almost a decade as it zeroes in on a double-digit operating profit margin of 10.5 percent.

Subaru is investing heavily in a shift to electric vehicles and hybrids.

Those plans are expected to eventually include localized EV production in the U.S.