Court OKs Suzuki Bankruptcy Plans
The 30 year run of Suzuki auto sales in the United States is one step closer to coming to an end, as a California bankruptcy court approved Suzuki’s restructuring plans.
Suzuki Motor of America will be the new entity responsible for selling motorcycles and powersports equipment once Suzuki sells off its remaining new car inventory. Meanwhile, Suzuki sales outlets will continue to honor warranties and provide parts and service for the company’s automobiles.
A report by Automotive News scribe and Suzuki expert Ryan Beene highlights a bleak picture for Suzuki; sales fell from over 100,000 units in 2007 to a paltry 25,357 units in 2012 – about as many Camrys as Toyota sells in a month. An unfavorable exchange rate and contraction in the sub-prime auto market ultimately spelled doom for the auto maker in America.
Fans of the brand hoping for a return look to be out of luck as well. Chairman Osamu Suzuki ruled out a future return to America, stating
“Taking into account the issue of the exchange rates and the fact that we have no future outlook for making large vehicles, I think re-entry would be extremely hopeless.”
As for the status of Suzuki’s inventory – if you want an SX4 or Kizashi, you better act fast. A Suzuky spokesman was unable to tell Beene how many cars were left in America, while cars.com listed just 1376 Suzuki cars nationwide.
So long Suzuki! Your thirsty vehicles won't be missed by many. In related news, I saw my third Equator pickup in a parking lot recently. Those things sure sold well.