Subaru Posts Record Sales, Outlines Ambitious Plans for 2020
What happens when you achieve all your goals two years ahead of schedule? You create another business plan that is even more ambitious. Amid record sales and profits, Subaru introduced a new plan that would bring new engines, SUVs, and safety systems to North America by 2020. It also announced it would expand production at its plants worldwide. Subaru recently reported its best sales and profits since 1986, and it has been doing particularly well in the U.S. In fact, it is the only brand to see its U.S. sales jump in each of the past six years. Through April, Subaru sales have risen 22 percent, ahead of the industry average of 3 percent. Moving forward, Subaru announced in its "Prominence 2020" plan that the company will prioritize sales in North America, while Japan and China will be second-tier markets. Subaru will introduce a new platform that will support every model in its lineup. On the product agenda is a new seven-seat crossover as well as a plug-in hybrid. Also, Subaru said it will create more fuel-efficient engines with cylinder deactivation. Targeting increased thermal efficiency rates above 40 percent, Subaru may end up building some clean Atkinson cycle engines. However, from what we've heard, we don't expect the boxer engine to die away anytime soon. By 2020, Subaru also plans on enhancing its EyeSight system. This anti-collision technology currently helps drivers avoid front crashes, but Subaru hopes it will eventually apply to all types of collisions. Finally, Subaru will expand production at its Lafayette, Ind. plant and at locations worldwide. It will also end production of the Camry sedan in the fall of 2016, freeing Subaru up to make about 100,000 more of its own vehicles a year in Indiana. This move will help Subaru in its eventual goal of 1.1 million global sales a year, and from what we can see, the company may end up achieving this goal early too. Source: Subaru, Automotive News
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