Fuji Heavy Industries has raised its projected operating profit for the next six months due to higher transaction prices for its Subaru vehicles in the US, according to Reuters. Subaru sales jumped by 27 percent between April and September, thereby exceeding the manufacturer's early estimates. Much of that gain came without heavy incentives, which helped FHI increase its earnings estimates for the first half of the fiscal year from $401 million to $539 million, a bump of 34 percent.
The news comes in spite of the fact that Subaru saw its sales drop by 64 percent in China, due in part to strong anti-Japanese sentiments that recently swept the country. China accounts for around seven percent of total Subaru sales.
In addition, the report indicates overall Subaru sales worldwide were below forecasts. Expect to hear more detail on that situation once the automaker releases its second quarter earnings next week.