The Detroit News is reporting that the National Highway Traffic Safety Administration has opened an investiga
Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the conditions.
Suzuki of Japan has reportedly made the decision that almost everyone assumed it would make when it announced it was leaving the US market: when the 2014 model year concludes, it will no longer sell cars in Canada. With six employees overseeing its auto business in Canada and a dealer network that has shrunk to 55 outlets in the country,
It's pretty much a done-deal now, folks. A US bankruptcy judge has approved Suzuki's plans to wind down its operations in the States. As part of Suzuki's Chapter 11 proceedings, its automotive unit will cease to exist in the US, leaving the motorcycle, ATV and marine units to function as Suzuki Motor of America.
Following word that Suzuki is ceasing car sales in America, it appears that demand for the Japanese automaker's wares have increased. According to The Detroit News, American Suzuki Motor Corp. will import an additional 2,500 vehicles to quench demand that has jumped since the company announced that it was filing for bankruptcy
American Suzuki Motor Corporation (ASMC), which declared bankruptcy in early November, has been approved by the courts for up to $100 million in debtor-in-possession financing to enable it to shutter its US car business. ASMC had re
American Suzuki is continuing to offer buyers substantial incentives even as the company winds down operations. Those looking to nab a new Suzuki vehicle will find rebates of between $500 and $2,000 and zero-percent financing for up to 72 months as dealers look to liquidate inventory following the automaker's filing for Chapter 11 bankruptc
Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The
Yesterday's announcement that American Suzuki has filed for bankruptcy is all but a death blow for the Japanese automaker's 246 US dealers, but if there's any good news coming out of the situation, it could be the fact that the whole process will likely be quick and painless rather
As much as we knew it was a possibility, we have to say that Suzuki's announcement this afternoon that it is filing chapter 11 bankruptcy proceedings caught us a bit off guard. American Suzuki Motor Corporation - the sole distributor of Suzuki automobiles in the United States - will realign its business to focus on motorcycles, ATVs and the marine market.