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BUSINESS
March 27, 1987 | By Ron Wolf, Inquirer Staff Writer
To kick off a week of festivities early this month, promoters of Aspen's annual "Winternational" ski races lit a huge bonfire in Wagner Park at the foot of Ajax Mountain. On the steep slopes above the town, eerie red ribbons of light soon appeared as hundreds of skiers began a torchlight parade down the snow-covered trails. A display of fireworks erupted over the former mining town. At the finale of the fireworks, a pyrotechnic set-piece proclaimed "Subaru/Aspen" across the mountain.
BUSINESS
May 30, 1987 | By Al Haas, Inquirer Automotive Writer
Subaru of America Inc. earnings were off sharply in the second quarter, thanks to the cost of car-buyer incentives and the weakening of the dollar against the Japanese yen. The Cherry Hill-based company, which markets Subaru cars in the United States, also reported a decrease in earnings for the first six months of fiscal 1987. According to Syd Havely, Subaru's national corporate affairs manager, the earnings drop was greater in the second quarter than in the first because the incentives didn't go into effect until the second period.
NEWS
August 10, 1986 | By Laura Quinn, Inquirer Staff Writer
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.
BUSINESS
February 18, 1988 | By Al Haas, Inquirer Staff Writer
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.
BUSINESS
May 9, 2013 | By Yuri Kageyama, Associated Press
TOKYO - Subaru said Wednesday that it was investing $400 million to expand its Indiana factory and would add 900 workers to build the Impreza small car there in 2016. The plant now employs about 3,600 people and builds the Legacy and Outback cars and the Tribeca SUV. It also builds the Camry midsize car under contract with Toyota Motor Corp., the top shareholder in Subaru with a 16.5 percent stake. Subaru, part of Fuji Heavy Industries Ltd., said it would boost capacity at one of two assembly lines at the Lafayette plant - now being used to build the Camry - from 100,000 vehicles to 200,000.
NEWS
February 14, 2013
Subaru of America Inc. is donating $300,000 to the Salvation Army Ray and Joan Kroc Corps Community Center, which broke ground in December at its Cramer Hill site in Camden. The $300,000 donation will fund the center's Choice Food Pantry, which will be set up similar to a supermarket. The $90 million, 120,000-square-foot Kroc Center is expected to create 160 jobs and is scheduled to open in 2014. - Claudia Vargas
BUSINESS
September 10, 1988 | By Richard Burke, Inquirer Staff Writer
The high cost of buyer-incentive programs at Subaru of America Inc. resulted in third-quarter losses of $23.5 million. For the nine months that ended July 31, the Cherry Hill importer of Subaru vehicles reported losses of $31.7 million, which it said were caused largely by a program of rebates and advertising instituted this year to boost lagging sales. Sales were down 9 percent for the third quarter from the year before, and for the first nine months of the fiscal year. The program is designed to allow Subaru distributors to offer rebates averaging $2,000 per car. SUBARU OF AMERICA INC. (OTC)
BUSINESS
June 15, 1990 | By Al Haas and Larry Fish, Inquirer Staff Writers
Subaru of America Inc., the U.S. importer of Subaru cars, appears to be continuing its fiscal renaissance, reporting yesterday that it was tacking $5.5 million in second-quarter earnings onto the $10 million it made in the first quarter. These tidings follow several lean years during which the company lost a total of $80 million. Subaru attributed its improved results to the higher profit margins of its newest model, the Legacy compact, and reduced advertising and expenses for sales incentives.
BUSINESS
December 2, 1987 | By Al Haas and Ron Wolf, Inquirer Staff Writers
The Japanese yen's increased strength against the dollar, which increased costs of the cars it imports, and expensive incentives offered to sell cars left Subaru of America Inc. with a loss for the second quarter in a row. The Cherry Hill-based importer and distributor of cars made by Fuji Heavy Industries of Japan had predicted a loss for the quarter. The $15 million in red ink was an improvement from a $50 million loss in the previous quarter. SUBARU OF AMERICA (OTC) 4 QTR. '87 4 QTR. '86 PCT. END 10/31 END 10/31 CHG. Sales (millions)
NEWS
May 23, 1986 | The Inquirer Staff
Subaru of America Inc. yesterday reported record net income for its fiscal second quarter, ended April 30, of $23.2 million or 47 cents a share, compared with $18.4 million or 37 cents a share in the same period a year ago. Net sales also were a record, rising to $476.6 million from $326.5 million last year, the company said. The Pennsauken company, the exclusive U.S. importer and distributor of Subaru vehicles and replacement parts, said it also had record sales and earnings in the first six months of the fiscal year.
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ARTICLES BY DATE
NEWS
May 26, 2015 | By Allison Steele, Inquirer Staff Writer
Last year, as companies announced plans to move to Camden with help from state tax incentives, a group of local business owners started talking about how they could get in on the action. Several of the corporations poised to relocate to the city in the future, including Subaru of America and Holtec International, will build new facilities there. The area's contractors and suppliers saw an opportunity for themselves, said Jim Bannon, general manager of Stelwagon Roofing Supply, which sells roofing materials and has locations in the city's Bergen Square neighborhood and Philadelphia.
NEWS
February 16, 2015 | By Scott Sturgis, For The Inquirer
2015 Subaru Legacy 2.5i Limited: Another humdrum midsize sedan? Price: $30,580 as tested ($26,495 for a base Limited, and $21,695 for the most basic model). Conventional wisdom: Good for February, but not a lot of fun. Marketer's pitch: "Dog tested. Dog approved. " (Approved by Mr. Driver's Seat's three dogs, as well.) Reality: More fun than it first appears - and still practical. Sedan delivery: I've always liked Subaru's roomy Forester crossover and the cute, versatile Impreza hatchback.
NEWS
February 1, 2015 | By Jeff Gelles, Inquirer Staff Writer
Pizzazz and performance will offer their usual allure as the Philadelphia Auto Show opens Saturday at the Convention Center for its nine-day run. Acres of autos - about 700 vehicles from 40 brands - are on display, including "concept cars" and exotic Ferraris and Lamborghinis that ordinary drivers rarely get to touch. But many show-goers will be wowed this year by developments less visible than shiny sheet metal or powerful, fuel-efficient engines under the hood. Sophisticated safety systems and integrated "infotainment" controls designed to lessen driver distraction are increasingly front and center at the car show.
NEWS
December 23, 2014 | By Suzette Parmley, Inquirer Staff Writer
There are no hard feelings. Though Subaru of America's decision to move its U.S. headquarters from Cherry Hill to Camden stung, township officials are downplaying its impact. They say that they have moved on, and that the loss of tax revenue will be small, given the municipality's $8 billion ratable base. "Cherry Hill is never happy to lose any of our businesses, no matter how small or large," Mayor Chuck Cahn said last week. "Cherry Hill will be fine no matter what we lose, because we are always gaining new businesses.
NEWS
December 11, 2014 | By Allison Steele, Inquirer Staff Writer
TRENTON - The New Jersey Economic Development Authority on Tuesday approved $118 million in tax incentives for Subaru of America and an additional $40 million for Cooper Health System to relocate their operations in Camden. The health system, whose Cooper University Hospital already is a major presence in the city, intends to move 353 back-office jobs from Cherry Hill and Mount Laurel to Federal Street in downtown Camden and add 19 new jobs in the city, according to the application made to the EDA. Camden Mayor Dana Redd, who attended the EDA board's meeting, said the projects would help Camden return to its former glory as an economic hub of South Jersey.
NEWS
December 7, 2014 | By Allison Steele, Inquirer Staff Writer
Subaru of America plans to move its headquarters from Cherry Hill to Camden, the company said Friday, and set up operations at the site of the former Sears store. The property on Admiral Wilson Boulevard is part of the 45-acre Gateway Office Park and sits near Campbell Soup Co.'s world headquarters. Campbell bought the 13-acre Sears site two years ago with an eye toward development. To make the move, Subaru has requested $118 million in tax credits over the next 10 years from the state Economic Development Authority, which is to consider the application Tuesday among other proposed projects.
NEWS
December 7, 2014 | By Al Haas, For The Inquirer
The Subaru BRZ - for those of you who have been trapped in a cave in British Columbia since before the car's debut as a 2013 model - is a small sports coupe as affordable as it is handsome and athletic. It sprang from a joint venture with Toyota, which offers a fraternal twin called the Scion FR-S. With the BRZ now in its third model year, Subaru decided that some tweaks were in order, notably a suspension revision designed to make that sports car's undercarriage handle the bumps a little better.
NEWS
December 5, 2014 | By Allison Steele, Inquirer Staff Writer
This week, Camden Mayor Dana Redd told a crowd at a public event that more big news was on the horizon for the city's economic development. Officials won't say more publicly, but two people with knowledge of the project said Wednesday that Subaru of America will soon announce its move from Cherry Hill to Camden. Michael McHale, a spokesman for Subaru, said the company has been scouting possible sites for some time, including property in Philadelphia, but declined to say whether a decision had been made.
NEWS
June 20, 2014 | BY VINNY VELLA, Daily News Staff Writer vellav@phillynews.com, 215-854-2513
WHAT SHOULD have been a quick walk home from school yesterday turned into an hourlong ordeal for one Northeast Philly teen, the victim of a gunpoint kidnapping that saw him dumped on the other side of the city, police said. Just before 2 p.m., the boy, a ninth-grader at George Washington High School, called his dad, Christian Garnica, to say he'd be home soon, said Lt. John Stanford, a police spokesman. But as he rounded the corner to his house, on Ferndale Street near Greymont in Bustleton, the teen - whose name the Daily News is withholding - spotted two men waiting for him. Those men brandished handguns and grabbed the boy. They covered his eyes with tape and forced him into a nearby Subaru station wagon, Stanford said.
NEWS
May 25, 2014 | By Al Haas, For The Inquirer
Despite a growth spurt since the arrival of the new millennium, Subaru remains a small, niche automaker best known for its sturdy, all-wheel-drive crossover SUVs. Predictably enough, it would like to grow, primarily by peddling more non-crossovers. "We are too heavy on crossovers," said Michael McHale, Subaru's director of corporate communications. "We'd like to sell more sedans. " Enter the extensively redesigned 2015 Legacy, Subaru's player in the biggest car game of them all: the popularly priced midsize sedan.
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