Subaru has been on a roll in the U.S. with 79 months of steady month-over-month growth. But Subaru wants to spread that success to other markets and has a new five-year to try an achieve this.
Today in Tokyo, Newly appointed Subaru President Tomomi Nakamura unveiled the plan known as STEP - speed, trust, engagement, and peace of mind.
"The automotive industry is now in a tumultuous time. Subaru’s fast growth in recent years has come to highlight our challenges. The question is how we, as a small-scale company, will be able to survive in this big-changing area," said Nakamura.
Subaru wants to increase global sales from the 1.1 million vehicles it expects to sell in the current fiscal year to 1.3 million vehicles in the fiscal year on March 31, 2026. To do this, Subaru is planning to launch a number of new products including a hybrid and a "global strategic SUV" in the early 2020s. Furthermore, Subaru will evolving their "Dynamic X Solid design language into a "bolder" expression" and "enhancing sporty models."
On the technology front, Subaru is planning to offer Level 2 autonomous capability (i.e. Cadillac Super Cruise and Tesla's Autopilot) around 2020 and higher levels by 2024. It is also planning to offer some sort of connectivity in "80 percent of new vehicles in major markets" by 2022.
STEP will also be focusing on regaining trust in Subaru's home market. Last year, Subaru admitted that it had uncertified workers carrying out tests on new cars for Japan for decades. Early this year, the scandal got worse as Subaru revealed that inspectors falsified fuel economy and emission data. It led Japan's transportation ministry to reprimand Subaru and 417,288 vehicles to be recalled in the country.
Source: Automotive News (Subscription Required)