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This page is an archive of previously-published content. The information was accurate at the time it was published; however, the information may no longer be accurate or complete. If you have any questions about current Car-Part products, please contact your sales or support rep.
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| Volume 05 - Issue 10 |
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American Suzuki Files for Bankruptcy
The American Suzuki Motor Corporation filed for Chapter 11 bankruptcy protection on Monday evening, and will stop selling new cars in the United States.
American Suzuki will now focus on selling Suzuki motorcycles, all-terrain vehicles, and marine outboard engines. The company cites slow sales, unfavorable foreign exchange rates, and the high cost of complying with state and federal regulatory requirements as the reason for exiting the car business. American Suzuki sold just 2,023 cars in the US last month.
The company said the bankruptcy filing will facilitate a transition of its US automobile dealer network into a network of service and parts operations. They intend to honor all car warranties and buyback agreements. The reorganized company will retain the American Suzuki Motor name. This bankruptcy does not involve the company's parent, Suzuki Motor of Japan.
More information is available at NYTimes.com, WSJ.com, and CollisionWeek.com (membership required).
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