In December, Subaru Corp. CEO Tomomi Nakamura instructed Automotive News that the automaker is specializing in U.S. market share with the subsequent milestone of 5 p.c because the goal to hit.
“We’re not too far-off from with the ability to get there,” Walters mentioned.
“In reality, there are some months the place our retail market share does attain 5 p.c already, so we’re fairly inspired by that. I feel we’re getting shut sufficient simply to say, ‘Keep doing enterprise the appropriate method. Play it for the long run.’ If we’re ready to try this then actually someday over the midrange, we’ll attain that 5 p.c.”
A 4.2 p.c market share and 9 years of progress is a stark distinction from Subaru’s previous, when it was a distinct segment import model with annual U.S. gross sales constantly under 200,000 autos and a market share of lower than 1.5 p.c.
From 2001 to 2004, Subaru’s market share stayed at 1.1 p.c. It elevated to 1.2 p.c in 2005, however stayed there till 2008 when it elevated to 1.Four p.c.
Subaru’s market share rose to 2.1 p.c in 2009 and to 2.three p.c in 2010, however dipped again to 2.1 p.c in 2011 earlier than the streak began.
Subaru has handed Kia, Dodge, GMC and Volkswagen by way of market share throughout the streak.
Subaru’s lineup has additionally grown. It added the Crosstrek subcompact crossover and BRZ coupe in 2012 and returned to the three-row crossover section with the Ascent in 2018.
“When we began this 9 years in the past, and simply the general improve in gross sales going again about 12 years, that basically began with simply having good product and the appropriate product, [and] doing very nicely with proper sizing of SUVs with the appropriate content material,” Walters mentioned.
“Then you tie that with the branding, the advertising and marketing and the Love marketing campaign, [and] that is simply been very regular for us as we have been capable of construct our model fairness there.”