TOKYO (Bloomberg) -- Fuji Heavy Industries, the maker of Subaru cars, will reach its mid-term sales target in North America at least three years ahead of plan, helped by demand for the Forester crossover and Legacy sedan.
The automaker expects to sell 600,000 units in North America by 2016 or 2017, Fuji Heavy CEO Yasuyuki Yoshinaga said in an interview in Tokyo Thursday.
The company will probably announce a new mid-term sales target after that, he said. Fuji Heavy is forecasting a third consecutive year of record profits, as the weaker yen and rising U.S. demand counter a slump in the domestic market.
Fuji Heavy in May set a target to raise annual sales to more than 1.1 million vehicles by March 2021, with North America accounting for 600,000 units.
The company is set to gain further as the yen weakens to a seven-year low helped by Bank of Japan's Oct. 31 decision to expand stimulus to end deflation.
Fuji Heavy made three in four of its vehicles at home and ships the majority of them to overseas markets, including the U.S.
Subaru views 100 yen to 105 yen versus the dollar as the ideal exchange rate, Yoshinaga said.
"I don't think the cheaper the yen the better," Yoshinaga said. "It's most important for the yen to stabilize at a neutral territory and doesn't fluctuate sharply."