Extremely low dealer inventory levels
First written in FY2022-Q2. 1 of 8 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026New-vehicle inventory increased further over the full yearAnnual report
「“Inventories” increased by ¥134 billion due mainly to higher new-vehicle inventory and foreign exchange effects.」
The increase in new-vehicle inventory at the U.S. sales subsidiary continued from the previous year and accelerated over the full year, with inventories increasing by ¥134 billion. - FY2025New-vehicle inventory increased further over the full yearAnnual report
「“Inventories” increased by ¥78.9 billion due mainly to higher new-vehicle inventory and other factors.」
In addition to the previous conditions of low showroom inventory and higher in-transit inventory, the full-year filing identified higher new-vehicle inventory as a factor behind the ¥78.9 billion increase in inventories. - FY2024-Q2New-vehicle inventory at the sales subsidiary continued to increaseAnnual report
「“Inventories” increased by ¥70.5 billion due mainly to higher new-vehicle inventory at the U.S. sales subsidiary.」
The increase in new-vehicle inventory at the U.S. sales subsidiary continued into the first half from the previous year and was cited as a ¥70.5 billion factor behind the increase in inventories. - FY2023Sales subsidiary inventory increased, while showroom inventory remained lowAnnual report
「“Inventories” increased by ¥109.9 billion due mainly to higher new-vehicle inventory at the U.S. sales subsidiary.」
In addition to the low showroom inventory levels seen through the previous year, the filing stated that new-vehicle inventory at the U.S. sales subsidiary increased by ¥109.9 billion during the year. - FY2023-Q3RestatedAnnual report
「Demand for SUBARU vehicles remains strong, led by the US, and dealer inventory remains low.」
Although inventories at the U.S. sales subsidiary increased, showroom inventory remained low because of strong demand. Higher in-transit inventory and low showroom inventory coexisted. - FY2023-Q2In-transit inventory increased, while showroom inventory remained lowAnnual report
「As production increased, in-transit inventory not yet reflected in consolidated sales increased at the end of the second quarter of the consolidated fiscal year. However, overseas unit sales remained firm, particularly in the United States, a key market, increasing by 1.9万台, or 5.8%, year on year to 35.0万台. Demand for SUBARU vehicles, particularly in the United States, remains strong, and showroom inventory continues to be low.」
In-transit inventory increased as production rose, but demand, particularly in the United States, remained strong, while showroom inventory continued to be low. - FY2023-Q1New-vehicle inventory at the U.S. sales subsidiary increasedAnnual report
「The main factors included an ¥108.2 billion increase in “cash and cash equivalents” due to foreign exchange effects and a decline in accounts receivable, a ¥42.2 billion increase in “inventories” due mainly to higher new-vehicle inventory at the U.S. sales subsidiary, and a ¥19.2 billion increase in “other non-current assets” due to foreign exchange effects, among others.」
After dealer inventory was described as being at very low levels in the previous year, this quarter's filing disclosed a ¥42.2 billion increase in inventories due to higher new-vehicle inventory at the U.S. sales subsidiary. However, it did not specify how inventory levels were assessed. - FY2022-Q2First statedAnnual report
「Demand for SUBARU vehicles has remained firm, particularly in the United States, a key market. However, production and unit sales declined year on year as a result of these factors, leaving dealer inventory at very low levels.」
The very low level of dealer inventory resulting from semiconductor and parts supply constraints and production adjustments was disclosed for the first time as a separate business theme.