October 1, 2010
Cherry Hill-based Subaru of America Inc. today said its September sales of 21,432 vehicles represents a 47 percent increase over September 2009. The results reflect a near doubling of sales of the Subaru Outback sport utility wagon. Year-to-date sales of 193,614 units, compared to 158,421 units sold by this time in 2009, represents a 22-percent gain, the company said. Subaru has about 2 percent of the U.S. market share. Subaru of America is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan.
December 3, 1986 |
Isuzu Motors and Fuji Heavy Industries, which builds the Subaru, announced yesterday that they would construct a $500 million joint-venture assembly plant near Lafayette, Ind. The new factory, the sixth Japanese automaking facililty in this country, is expected to employ 1,700 workers when it begins operating late in 1989. It is scheduled to assemble 120,000 vehicles per year initially, with production evenly divided between the two firms. A subsequent expansion, scheduled for about 1994, would double the plant's output to 240,000 cars and trucks.
March 8, 1990 |
Thanks largely to the sales of its new Legacy subcompact, Subaru of America was able to report yesterday that it had made money for the second quarter in a row after having lost $100 million in fiscal 1988 and 1989. The U.S. importer of Subaru vehicles, which is based in Cherry Hill, listed a $10 million profit for the first quarter, ended Jan. 31. This compared with a first-quarter 1989 loss of $12.3 million. The company said first-quarter results had improved because the Legacy sedans and wagons had contributed higher profit margins than its other Subaru models, and because of a reduction in advertising costs and sales incentives.
August 13, 2004 |
Subaru has long had a reputation in this country for selling rugged all-wheel-drive vehicles popular with outdoors types. Now, the Japanese carmaker's parent, Fuji Heavy Industries Ltd., wants to raise Subaru's image into the realm of premium-car brands - such as Audi, Volvo and Saab - without alienating loyal customers. Industry analysts said Subaru, which has its U.S. headquarters in Cherry Hill, was following a trend among automakers with middle-market brands. The goal is to charge more and increase profitability.
July 10, 1992 |
Subaru of America's president, Thomas R. Gibson, said yesterday that he would resign from the Cherry Hill auto company to become president and chief executive of SMG, the Philadelphia company that operates the Spectrum and arenas and convention centers in the United States and Europe. SMG says it is the largest public-facility management company in the world. It runs 36 arenas, convention centers and theaters, including Moscone Center in San Francisco, Nassau Coliseum on Long Island, Los Angeles Coliseum, the Superdome in New Orleans and Three Rivers Stadium in Pittsburgh.
February 18, 1988 |
Subaru of America, which lost $30 million in 1987, yesterday said it made a small profit in its latest quarter, but not enough to preserve the company's common-stock dividend. Subaru suspended its quarterly cash dividend of 9.5 cents a share to "replenish our cash position," said spokesman Syd Havely. The Cherry Hill-based distributor of Subaru automobiles and trucks last paid a dividend on Dec. 31. "We expect the 1988 automotive market to be very competitive and characterized by aggressive marketing programs," said company chairman Harvey Lamm.
August 28, 1990 |
Shareholders of Subaru of America Inc. yesterday agreed to sell their stock to Fuji Heavy Industries Ltd., the manufacturer of Subaru cars, for a minimum of $8.50 a share or about $208 million. The deal is contingent on the sale of Subaru's portfolio of vehicle leases, which is being negotiated with a prospective buyer, according to Subaru spokesman Dan Dalton. If the lease-portfolio negotiations are consummated, a date for completion of the sale to Fuji will be set and the Cherry Hill importer of foreign cars will become a wholly owned sales subsidiary of the Japanese automaker.
August 10, 1986 |
With work crews completing the finishing touches, Subaru of America Inc. has set the formal opening of its $18 million headquarters in Cherry Hill for October. Earlier this summer, the company moved 450 employees from a nearby industrial park to the new seven-story building on Route 70. The move was a long-awaited solution to the growing company's problem of increasingly cramped quarters. For 16 years, Subaru occupied a converted warehouse at the Airport Industrial Park in Pennsauken, about a mile away from the new headquarters.
May 20, 1986 |
Two small Japanese automakers announced plans yesterday to build a U.S. plant for joint assembly of Subaru cars and Isuzu trucks. The $480 million joint-venture plant, 51 percent of which will be owned by Fuji Heavy Industries Ltd., the maker of Subarus, and 49 percent by Isuzu Motor Co. Ltd., will be designed to turn out at least 120,000 vehicles a year starting in 1989, the companies said. No plant site has been selected. Neil Szigethy, a spokesman for Fuji's U.S. sales affiliate, Subaru of America Inc. of Pennsauken, N.J., said that although the companies were considering building the facility in the Southeast or southern Midwest, they were not excluding any U.S. locale.
February 1, 1989 |
The Japanese company that makes the cars and trucks imported by Subaru of America has agreed to invest $20 million in Subaru in return for a greater voice in running the Cherry Hill importer. Subaru said Fuji Heavy Industries has agreed to buy 50,000 shares of Subaru's non-voting preferred stock for $20 million, an amount equal to nearly 10 percent of Subaru's net worth. Subaru has reported losses totaling $88 million in its last two fiscal years. Subaru, at its Feb. 24 board meeting, will give Fuji two more seats on the company's board of directors.