Subaru Reports 11.8% Sales Growth in August, Crosstrek Record
![Subaru Reports 11.8% Sales Growth in August, Crosstrek Record](https://investorshangout.com/images/blog/ihnews-Subaru%20Reports%2011.8%25%20Sales%20Growth%20in%20August%2C%20Crosstrek%20Record.jpg)
Subaru Achieves 11.8% Sales Increase in August
Subaru of America, Inc. (SOA) recently shared impressive figures, reporting a total of 63,053 vehicle sales in August, reflecting an increase of 11.8% from the previous year. This surge illustrates the company's continuous growth, marking the 25th consecutive month of year-over-year growth in monthly sales. Furthermore, a year-to-date sales total of 437,198 vehicles shows a robust 6.4% increase compared to the same period last year.
Record-breaking Sales for Crosstrek
The Crosstrek model has made headlines with its best sales month ever, moving 20,396 vehicles — a remarkable 47% increase compared to August of the previous year. This record surpasses the previous high of 16,092 units set in the same month of 2022. The Crosstrek's appeal continues to resonate deeply with Subaru customers, signifying a strong market demand for this versatile compact SUV.
Leadership Insights on Continued Growth
Jeff Walters, President and Chief Operating Officer of Subaru of America, emphasized the role of Subaru retailers in driving sales success. He stated, "August marked our 25th consecutive month of growth thanks to Subaru retailers nationwide. Their dedication to being a trusted partner in the vehicle journey remains an important part of keeping our customers satisfied, whether it is for someone purchasing their first Subaru or returning for their next." This commitment to customer satisfaction reinforces Subaru's value proposition in the automotive market.
Performance Across Other Models
Following Crosstrek, the Subaru Outback remained a bestseller, with 16,435 units sold in August. The Forester model also showed strong demand with 13,456 sales despite a slight decline compared to last year's performance, as production ramps up. Notably, the Solterra model also posted its best August ever, reflecting a 55% growth from the previous year.
Subaru’s Diverse Vehicle Portfolio
Troy Poston, Senior Vice President of Sales, noted the diverse appeal of Subaru's lineup. He remarked, "This summer season continued to see success with our strong lineup connecting with all types of customers looking for safe and reliable vehicles. The Crosstrek, in particular, achieved its best sales month ever, becoming the right match for a steadily growing number of Subaru owners." Subaru's reputation for safety and reliability continues to attract a loyal customer base.
Sales Statistics Overview
Here's a brief overview of sales performance across key models for August:
- Ascent: 4,630 units sold (-4.7% from Aug 2023)
- BRZ: 347 units sold (29.5% increase)
- Forester: 13,456 units sold (-12% from Aug 2023)
- Legacy: 1,654 units sold (-40.2% from Aug 2023)
- Outback: 16,435 units sold (13.3% increase)
- Solterra: 1,417 units sold (54.9% increase)
- WRX: 1,552 units sold (-7.5% from Aug 2023)
About Subaru of America, Inc.
Subaru of America, Inc. is an indirect wholly owned subsidiary of Subaru Corporation based in Japan. The company markets and distributes Subaru vehicles, parts, and accessories through an extensive network of approximately 640 retailers across the U.S. Subaru is committed to producing vehicles that enhance customer experiences while maintaining a strict focus on sustainability. All Subaru products are manufactured in zero-landfill plants, highlighting the company's commitment to environmental stewardship.
Subaru strives to be more than just a car manufacturer; the company aims to foster a sense of community and support, embodied in the Subaru Love Promise initiative. Over the last two decades, Subaru and its foundation have delivered notable contributions to various charitable causes, exceeding $320 million, alongside dedicating hours to employee volunteer work.
Frequently Asked Questions
What was Subaru's sales increase in August 2024?
Subaru experienced an 11.8% increase in sales, totaling 63,053 vehicles sold.
Which Subaru model achieved record sales in August 2024?
The Crosstrek achieved its best sales month ever, with 20,396 vehicles sold, surpassing its previous record.
How does Subaru's year-to-date sales compare to last year?
Subaru reported a year-to-date sales total of 437,198, which is a 6.4% increase compared to the same time last year.
What efforts has Subaru made in sustainability?
Subaru manufactures all of its products in zero-landfill plants, emphasizing environmental responsibility across its operations.
What initiatives does Subaru support in giving back to the community?
Subaru, through its foundation, has donated over $320 million to various causes over the past 20 years and promotes a culture of volunteerism among its employees.
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