Hedge fund investor Daniel Loeb has purchased a minority stake in Suzuki Motor Corp., which may mean the automaker could have a ruling on its nearly 5-year arbitration with Volkswagen, Bloomberg Business is reporting.
The unspecified investment in Suzuki by the billionaire Loeb, who is one of Japan’s wealthy business elite, could be a sign that a ruling following June’s completion of arbitration is imminent. For years, Suzuki remained “paralyzed” as the procedure slogged on.
Suzuki has a significant automotive presence in emerging markets and India.
All 12 North American employees have been officially notified that their jobs are saved.
Want something cheaper than the Dacia Sandero? Maruti Suzuki will sell you a brand new car for 244,000 rupees. That’s $4,613.
When the question of whether a Death Watch should be started for Suzuki was first posed here at TTAC in April, there was a lot going on behind the scenes at the stylized “S” brand but not many facts filtering out to the public.
As of today, TTAC’s Death Watch starts for Suzuki’s North American operations. And if you haven’t been following the drama, here’s some background for you…
India is going to be an economic powerhouse, just like China. With 1.1 billion people, that’s a lot of potential customers for your goods. Suzuki knew this, which is why they pushed hard in India. Suzuki is the undisputed market leader in India. Whenever there are developments in that market, we should probably listen. Listen up: (Read More…)
Hyundai are on fire at the moment. They’re posting good profits at a time of economic instability, their quality & reliability is winning them awards and customers like what they see in their showrooms. However, that magic formula seems to be losing its lustre elsewhere in the world. The Hindu Business Line reports that Tata Motors have snatched number 2 position from Hyundai in the Indian market. Sucks to be third! (Read More…)
It’s obvious that Suzuki isn’t surviving the global downturn on US sales. Stateside, the Japanese automaker’s sales fell over 50 percent last year, with only 38,695 vehicles sold. Globally, Suzuki sold 908,302 units, meaning fewer than one out of 20 Suzukis sold worldwide were in the US market. That’s no big surprise as Suzuki has long focused on developing markets for growth. What is surprising is that Suzuki’s Indian joint venture Maruti actually outproduced its parent company, racking up 966,399, of which about 130k were exported. Wilder still, Maruti sold 967,581 units last year, more than it could produce and more than Suzuki produced worldwide. Suzuki owns 54 percent of Maruti, the best-selling brand in the Indian market by a healthy margin. The Indian market grew by 19 percent last year, while the Japanese market fell by ten percent.
In my editorial on GM’s plant to take on the Indian market in partnership with SAIC, I wrote that Maruti Suzuki’s monstrous market share indicated the possibilities for GM. Well, the Indian market leader isn’t going to just sit on that lead. In 2007, Osamu Suzuki said that his firm’s Indian passenger car market share would never drop below 50 percent, an assertion that took two years to prove untrue. The WSJ reports that although the overall Indian market will probably grow 16 percent this year, Maruti’s share of that market has fallen over the last year from 45 percent to about 40 percent (with passenger car share down from 55 percent to 48 percent).
News that GM is selling a control-shifting single share in GM Shanghai to its Chinese partner SAIC was the toads-from-heaven flourish at the end of an epic week for the RenCen. The day after the last of GM’s lifer CEOs left the building, Opel’s CFO followed suit. One management re-organization and a rough LA Auto Show later, came this symbolic surrender of GM’s largest market for a measly $85m. Accompanied by news that The General would buy out Suzuki’s stake in CAMI for an estimated $46.5m, no less. Oh yeah, and something about India. Freshly-minted CEO and notorious rattlesnake killer Ed Whitacre isn’t about be accused of not trying to shake things up. The only question is where will everything land?