Subaru to Introduce Two New Electric Cars in the UK by 2026
EVs and Fresh Forester to Drive Subaru’s Growth in the UK Market
Subaru is set to expand its presence in the UK market by introducing two new electric cars by 2026. This move is part of the company’s £8 billion electrification investment package, which will see the introduction of seven new EVs worldwide. Three of these EVs will be SUVs developed in collaboration with Toyota, who also holds a 20% stake in Subaru. The success of the Solterra, based on the bZ4X from Toyota, has encouraged Subaru to further invest in electric vehicles.
Staying True to Subaru’s Core Values
Subaru UK’s managing director, Lorraine Bishton, who joined the company in January, has emphasized that the new EVs will stay true to Subaru’s core values of being safe, tough, and fun. The upcoming additions to Subaru’s lineup are expected to be practical high-rise hatchbacks with a focus on four-wheel drive, catering to the brand’s core demographic.
Strong Dealer-Customer Relationship Key to Success
Subaru has a strong network of 65 dealerships across the UK, mainly located in rural areas. Bishton highlighted the importance of the close relationship between dealers and customers, as they provide crucial support throughout the EV adoption process. Despite the possibility of transitioning to an agency retail model, Subaru believes that customers need the support and trust of familiar dealers, especially during the transition to electric vehicles.
Impressive Sales Performance and Growth Plans
The Solterra has already accounted for 27% of Subaru’s UK sales, surpassing the 22% EV sales mix required to meet the UK government’s zero emissions vehicle mandate. Bishton acknowledged the need for better representation in certain regions, particularly in the south-east of the UK. The upcoming EVs, along with the launch of a new generation Forester later this year, are expected to drive a period of growth for Subaru in the UK market.
Subaru aims to reach global sales of one million vehicles by 2024. Despite selling only around 2400 cars in the UK last year, the company experienced significant year-on-year growth of approximately 30% from January to June. Bishton plans to rebuild Subaru’s UK share and surpass its peak sales of 12,000 cars per year in the 1990s.
Evolution of Subaru’s Image and Motorsport Heritage
Bishton acknowledged that Subaru’s image has evolved over the past 20 years but believes there is still value in highlighting its sporting heritage. Subaru’s factory racing team recently won its class at the Nürburgring 24 Hours, demonstrating the brand’s commitment to motorsport. The company believes that motorsport influences the development of its road cars, particularly in the electric vehicle segment.
Overall, Subaru’s expansion plans, focus on electric vehicles, and commitment to its core values position the company for growth and success in the UK market.
