American Suzuki, the Japanese carmaker’s U.S. subsidiary which filed for Chapter 11 bankruptcy last month, will continue to offer consumer rebates and zero percent financing to gain potential customers.
As previously announced, the brand is winding down its U.S. auto sales operations. Suzuki sold 2,224 vehicles last month compared to just 1,822 in November 2011, up 22 percent for its second-largest monthly gain of 2012. The brand’s year-to-date sales totaled 23,412 vehicles in the first 11 months of the year, down 3 percent compared to last year.
Suzuki’s results last month were helped by incentives, including zero percent financing for up to 72 months or consumer rebates of $500 to $2,000 for new Suzukis. The Japanese carmaker announced the incentives will continue in December.
On November 5, American Suzuki filed for Chapter 11 to wind down its automotive sales division, buy out its 220 auto dealers and focus on selling motorcycles, ATVs and boat engines. Last month, American Suzuki and Ally Financial received bankruptcy court approval to continue consumer incentive and dealer floorplan programs.
When it filed for bankruptcy, Suzuki’s U.S. dealers had an estimated 5,000 new vehicles in inventory, with another 1,500 to 1,700 headed to dealerships. Suzuki will continue to honor vehicle warranties through its existing dealer network.
by Dan Mihalascu
) - Tuesday, December 4th, 2012 - filed under Uncategorized
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