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Suzuki America is filing for bankruptcy

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Suzuki America is filing for bankruptcy

The American division of Suzuki is filing for bankruptcy these days and the first step of leaving the auto market over-seas will be to stop selling cars in the country.

Bad news for the Japanese based automaker Suzuki’s North American division which is filing for bankruptcy these days. The company is planning to wind down on United States sales of its lineup and these means that Americans will no longer be able to buy the line of the SX4 variants, the midsize sedan, the truck and the SUV. The Grand Vitara has lost its V6 engine option this year after the connection with GM ended, the Suzuki Equator is basically a rebadged Nissan Frontier, the SX4 needs upgrades and the Kizashi has some problems too.

Once current supplies will run out, Suzuki will no longer sell its cars and trucks in the United States. However, the motorcycles, the ATVs and the watercraft will not be affected by this decision and current owners of the company’s vehicles will still have their warranties honored and parts available. Suzuki will still sell cars and trucks in other markets across the globe, including in its homeland, Japan. Below, you can find an official statement from Suzuki:

“In evaluating its position in the highly regulated and competitive U.S. automotive industry, ASMC determined that its Automotive division was facing a number of serious challenges. These challenges include low sales volumes, a limited number of models in its line-up, unfavorable foreign exchange rates, the high costs associated with growing and maintaining an automotive distribution system in the continental U.S. and the disproportionally high and increasing costs associated with stringent state and federal regulatory requirements unique to the U.S. market. While the decision to discontinue new automobile sales in the U.S. was difficult to make, today’s actions were inevitable under these circumstances. ASMC is dedicated to honoring its commitments to Automotive customers through and after the wind down of new automobile sales in the continental U.S.”

Source: Suzuki

by Cristian Gnaticov (my Google+) - Tuesday, November 6th, 2012 - filed under Industry, News, Suzuki. Image credit: .
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