Japanese carmaker Subaru has revised its global vehicle sales forecast for FY2022 (ending March 31, 2022) to 960,000 units, down 40,000 units from its previous forecast because of the global semiconductor chips shortage.
That said, the company’s consolidated revenue outlook remained unchanged at JPY3,300bn ($30.2bn) with operating profit at JPY200bn.
In the January to June period, Subaru’s global production rose by 4.6pc to 379,385 units compared to the same period in 2020. Under this, domestic output increased by 6.9pc to 242,324 units and overseas production rose by 0.8pc to 137,061 units annually.
In Q1 FY2022 (April-June), Subaru’s global production grew by 99.4pc to 184,000 units from the same quarter last year. Of the total output, Japanese production rose by 109.6pc to 117,000 units while overseas output increased by 83.5pc to 67,000 units from Q1 FY2021.
In June, the company’s global production increased by 21.3pc to 74,293 vehicles from the same year-ago month with domestic production climbing by 69.2pc to 50,560 units and overseas declining by 24.3pc to 23,733 units.
In January-June, the firm’s total exports increased by 6.9pc to 198,663 units annually. In Q1 FY2022, the carmaker’s total global sales increased by 31.7pc to 175,000 vehicles compared to Q1 FY2021. Sales in Japan in this period increased by 29.5pc to 24,000 vehicles while overseas vehicle sales rose by 32.1pc to 151,000 units. In June, Subaru’s exports surged by 118pc to 41,817 vehicles annually.
In the first quarter of FY2022, the company’s revenue increased by 39pc to JPY635.2bn compared to Q1 FY2021 because of rising vehicle sales.