Subaru Sees Strong US Demand To Continue: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

August 3, 2022 7:18 AM | 1 min read | Make a Comment

Japanese multinational, Subaru Corporation FUJHF sees strong demand from U.S. car buyers to continue, amidst fears of economic slowdown, Reuters reported.
Subaru has a backorder of about 50,000 vehicles, and retailers only have between 4 to 5 days’ worth of stock in the U.S., the report cited Chief Financial Officer Katsuyuki Mizuma.
The automaker produced 11.7% more vehicles globally, to 205,000 units for the quarter ending June 2022. Production in the U.S. grew 5.4% to 70,000 units.
Subaru’s revenue for the quarter increased 31.3% Y/Y to ¥834.1 billion.
Price Action: FUJHF shares closed at $17.74 on Tuesday.