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Subaru Sees Strong US Demand To Continue: Reuters

Author: Shivani Kumaresan | August 03, 2022 07:18am

Japanese multinational, Subaru Corporation (OTC: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.

Posted In: FUJHF