As it seems to be avoiding a financial decline in China, Fuji Heavy Industries Ltd.’s Subaru division predicts that 700.000 of its vehicles will be sold in North America by 2017.
Yasuyuki Yoshinaga, the CEO of Fuji Heavy CEO, said in an interview that the brand might sell more than 600,000 vehicles in North America in 2015, which is five years ahead of its mid-term plan. Subaru has grown its market share in U.S. lately as more mass-market customers turned to the carmaker’s launched models for ownership.
For a second month in a row this August, American consumers bought more passenger vehicles than the Chinese drivers. The reason for that is that fuel prices continue to be affordable, as well as an equities rout in China leading to procrastination from buyers to purchase new cars in the region.
Deliveries in the U.S. have grown in numbers for the past 45 consecutive months. It sure seems that America is not facing the slump it did back in 2009. That is why Subaru has put its China production efforts for expansion and increased sales on hold and decided to export more cars to the American market.
On Friday, Yoshinaga said that “The China slump won’t have any impact on our earnings. Even if we divert the gap in China sales all to the U.S., we still won’t meet the demand there.”
He also added that compared to 2014 when 55.000 Subaru units were delivered to China, this year the sales numbers may fall below 50,000. This is happening despite an initial estimate of 60.000 vehicles to be sold this year.
The Japanese carmaker sold 375,632 vehicles in the U.S., an increase of 13% through August 2015. Back in 2014, Subaru managed to sell a total of 513,693 vehicles, 21% more than the previous year.