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Tariffs are having an immediately negative impact on Subaru’s profitability, but they’re also elevating warranty costs considerably. By Will Girling
While the first half of financial year 2025/26 had a mixture of good and not-so-good results for Subaru, Q3 was unequivocally bad. A 21% drop in sales volume led to revenue of JP¥1,133bn (US$7.3bn), down almost 11% from a year ago, but it was US tariffs that dealt the biggest blow, and not just directly.
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