On May 13, Subaru released its financial report, which showed that the company's operating income in fiscal year 2023 was 4.7 trillion yen, up 25% year on year; Operating profit was 468.2 billion yen, up 75% year on year. The sales of models with high profits such as Forester and Aohu are strong, improving the sales structure; With the weakening of the yen, export dependent Subaru received a huge foreign exchange boost.
"At present, it is difficult to predict the future development trend of electric vehicles, and there is a great risk of fighting alone in this field." Toshi Ozaki, CEO of Subaru, said that we had talks with Toyota Motor, and agreed that it is a better choice to reduce risks through joint development.
According to the European Automobile News Network, on Monday (May 13), Subaru released a financial report showing that the company's operating revenue in fiscal year 2023 (April 2023 March 2024) was 4.7 trillion yen, an increase of 25% year on year; Operating profit was 468.2 billion yen, up 75% year on year; The net profit was 385.1 billion yen, almost doubling year on year.
Subaru cannot achieve such performance without the support of sales. In fiscal year 2023, Subaru's cumulative shipment volume will reach 976000 vehicles, with a year-on-year growth of 15%; The sales volume in the US market reached 695000, up 17% year on year. The sales of models with high profits such as Forester and Aohu are strong, improving the sales structure; With the weakening of the yen, export dependent Subaru received a huge foreign exchange boost.
Looking forward to the 2024 fiscal year, Subaru expects the global sales volume to be 980000, with a year-on-year growth of less than 1%; Operating profit decreased by 15% to 400 billion yen; Net profit fell by 22% to 300 billion yen. "The decline in sales growth, the strengthening of the yen, and higher R&D investment will threaten Subaru's performance in the new fiscal year."
Although the growth of global electric vehicle sales has slowed down, "we still adhere to the long-term goal, that is, half of the global sales (about 600000 vehicles) come from pure electric vehicles," said Atsushi Osaki, CEO of Subaru. According to the plan, Subaru's annual sales will reach 1.2 million vehicles in the future.
To this end, Subaru will cooperate with Toyota to develop and produce new pure electric products. "At present, it is difficult to predict the future development trend of electric vehicles, and there is a great risk of fighting alone in this field." Osaki Dunsi said that we had talks with Toyota Motor, and agreed that it is a better choice to reduce risks through joint development.
Dawaki said that Subaru plans to launch four pure electric models by the end of 2026, including the existing Solterra. It is reported that Solterra is jointly developed and produced by Subaru and Toyota Motor, and it is the only pure electric product currently on sale in Subaru.
Among the other three new pure electric vehicle models, Subaru will produce one in Japan's Yashima factory; Toyota will produce one model in the United States, and both models are "jointly supplied". In addition, Toyota is expected to produce a new three row pure electric crossover vehicle for Subaru in 2025. Not long ago, Toyota began to put its own model into production, tentatively named bZ5X.
As for the potential plan of Subaru to produce electric vehicles in the United States, Dawaki is still uncertain. "Subaru has no plan to produce pure electric vehicles in American factories for the time being; however, we will carefully study market changes and decide whether to advance the matter according to the specific circumstances."
It is worth mentioning that Subaru plans to independently develop pure electric vehicles in the second wave of new energy wave in 2028. "The prospect of pure electric vehicles in 2028 and beyond is still uncertain, but if the market continues to improve, we also hope to seize the opportunity to promote the pure electric vehicles developed by Subaru," said Toshi Ozaki
In addition, "for Subaru, it is also important to continue to develop and sell internal combustion engine vehicles, as well as to provide a hybrid power product lineup," he added. (Jiang Zhiwen of China Economic Network/compiler)
