Subaru expects its global vehicle sales to drop by 11.9pc to 911,000 units in FY2021 ending March 31, 2021, compared with FY2020.
The carmaker has projected an 11.8pc fall in its consolidated revenue to JPY2.95tn ($28.2bn) and a 47.7pc decline in its operating profit to JPY110bn, it said in a statement.
The company’s vehicle sales in North America made faster than expected recovery in Q2 FY21 after being significantly impacted by the COVID-19 related shutdowns. This led to the company’s total global production to rise by 28.9pc to 354,000 units in H1 FY21 compared to the same period last year.
In Japan alone, the firm’s output declined by 32.2pc to 221,000 units, while its production outside Japan dropped by 22.7pc to 133,000 units in the first half of the fiscal from H1FY20.
The Japanese carmaker’s global sales in the first half of the fiscal fell by 27.9pc to 363,000 units from the same prior-year period. Sales in Japan decreased by 37.4pc to 43,000 units while its overseas sales were down by 26.4pc to 321,000 units during the same period under comparison.
Subaru’s consolidated revenue in H1FY21 fell by 24.1pc to JPY1.2tn from the same period last year, while its operating profit in the first half of the fiscal declined by JPY64.2bn to JPY30.6bn from the same prior-year timeframe.