Automakers

Subaru's quarterly profit hit by chip crisis as production, sales fall

Subaru sign
February 07, 2022 09:56 AM

TOKYO -- Subaru profits plunged by two-thirds in the latest quarter as crimped production and falling sales hammered results, driving backorders higher and forcing the automaker to cut its earnings outlook with no clear signs of relief from the ongoing semiconductor crisis.

Staying current is easy with newsletters delivered straight to your inbox.