Q3 marks end of Subaru’s 9-quarter run of rising margins

Always one for going its own way, Subaru has largely managed to avoid the downturns in profitability that have affected so many of its larger peers. A lack of significant exposure to China or to electric vehicles (EVs) enabled the company to report y-o-y operating margin growth for the nine consecutive quarters up to and including fiscal Q2 2024/25.