TOKYO -- Subaru's corporate parent, Fuji Heavy Industries Ltd., reported an operating profit of zero in this year's fiscal first quarter. The company cited the cost of incentives on vehicles sold in the United States and the strengthening of the yen against the U.S. dollar.
During last year's April-to-June quarter, Fuji reported a group operating profit of $84.8 million.
Subaru's U.S. sales during the three months were down 6.4 percent from the year-ago period to 44,092. European sales increased by 0.4 percent to 11,000.