Subaru are a manufacturer well known all over the world. The Japanese car company, although world famous is actually only a small part of Fuji Heavy Industries, known mainly for its contribution to the aviation and bus industry. After a meeting between its board of directors, the company has now decided to put its focus more on cars and concluded to rename and rebrand as Subaru Corporation. After reaching a million car sales globally in 2016 for the first time, the renaming would appear to have come at the right time. The automotive industry is becoming increasingly more competitive, therefore the decision for Fuji Heavy Industries to focus mainly on car manufacturing could be a very wise one.
2017 will be the company's 100th anniversary and the name change is set to accompany this on the 1st of April 2017. The name change should help to simplify the confusion related to the ownership of companies and automobile manufacturers. This in turn will help bring together the brand of Subaru and increase global sales significantly. The company has also decided to move production of some of their industrial engines to China as part of a partnership deal. The move by Subaru to put the rename into action alongside the 100th anniversary is a great one and may give the company much more recognition.
The new plan comes with impressive goals and Subaru have named their venture 'Prominence 2020'. The company aims to reach automotive global sales of 1.1 million by 2020. To achieve this number, the company will need a 25% increase in sales in the United States. To help with this goal, Subaru are planning to launch a plugin hybrid and an SUV with seven seats to appeal to the market in the US. Like other car manufacturers, the company have realised that the vehicles that need to be produced must appeal to the target audience.
These changes are very significant to Subaru as a whole and could mean that the company's automotive vehicles become more popular than ever before. By competing with other car manufacturers and offering new and interesting vehicles, Subaru may be very likely to achieve the sales target that they plan to. Although Subaru cars are mainly known in the rally and motor racing industry, their sales figures show that the commercial market is booming like never before.
For many, the decision to rename and change focus may seem like a small one, but this could spur a huge breakthrough for Subaru. The 2020 plan is a good stepping point from the board of directors and offers an exciting focal point for Subaru fans from around the world. With the success of the company in 2016 and the introduction of new vehicles in 2017, Subaru is definitely an automotive brand to follow. The changes could mean good news for shareholders, although somewhat unpredictable, the 2020 plan does seem achievable. The introduction of new vehicles may not only mean a boost in sales in the US but could have a global effect. Subaru are definitely worth keeping an eye on in the coming years.