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American Suzuki gets $100M in financing to go out of business... buy more cars?

American Suzuki Motor Corporation (ASMC), which declared bankruptcy in early November, has been approved by the courts for up to $100 million in debtor-in-possession financing to enable it to shutter its US car business. ASMC had received a $45 million loan from the Japanese parent company, Suzuki Motor Corporation (SMC), last month in order to make repayment deals with its franchise dealers. At the same time, ASMC was awaiting final court approval of this larger loan.
Out of the newly approved funds, $50 million can be used for operations, and oddly, the other $50 million can be put toward purchases of new inventory from SMC. That's right, even as existing inventory was headed for a smooth exit with the help of incentives, customer demand for orphan Suzuki models is so strong - last month's sales were up 22 percent compared to 2011 - that ASMC plans to purchase 2,500 additional cars from SMC that were built after the bankruptcy announcement. Good news for the owners of those vehicles: the top 50 dealers, representing more than 98 percent of ASMC sales, will become parts and services centers.
The press release below has more information. Unlike its recent tenure here, the end of Suzuki cars in the US looks like it's going rather well.

Junkyard Gem: 1996 Suzuki Swift SLOKYO DRIFT Edition

General Motors sold plenty of rebadged Suzukis over the decades in the United States, starting with the Chevy Sprint in 1985 and continuing with various Geo- and Chevrolet-badged machines into our current century. The one we remember best remains the fuel-sipping Metro, successor to the Sprint and available here through the 2001 model year. The Sprint and Metro were based on the Japanese-market Cultus, and Suzuki put its own badges on this car in the United States for the 1989 through 2001 model years. That was the Suzuki Swift, a car we know best today for its factory-hot-rod version, the Swift GT. Normally, I wouldn't bother to document an ordinary Canadian-built Swift found in a boneyard, but today's Colorado-found Junkyard Gem boasts some interesting custom touches that make it worth our attention. Get ready for… SLOKYO DRIFT! While countless American owners of Integras and Lancers and 240SXs went nuts with JDM-influenced car decor following the release of The Fast and the Furious: Tokyo Drift in 2006, drivers of the tiny and miserably underpowered Metro/Swift econo-commuters felt left out of the party. The owner of this car knew what to do, though: buy some stick-on mailbox letters and slap them on this Swift's hatch. Junkyard-acquired badges adorn every surface of the SLOKYO DRIFT Swift, because why not? It turns out that many Reddit regulars in Colorado spied this car on the street, and so you'll find many references to it on that site. Since any 24-year-old econobox with a manual transmission and a salvage title will be nearly impossible to sell, we can assume this car spent its last few years just one broken part away from The Crusher. Once it needed an expensive repair, it wasn't worth fixing. The original owner's manual and documentation remained in this Swift until the end. It appears that Colorado TV-advertising legend Dealin' Doug moved this iron off his Cherry Creek Dodge lot when it had a mere 5,920 miles on the clock, based on this "Phoney Monroney" I found in the glovebox. 168,925 hard miles later, here it is. At some point, it got totaled, put back together, and stamped with this REBUILT FROM SALVAGE lettering on the door jamb. We think of the Metro/Swift as a three-cylinder car, but many of the later versions got this 1.3-liter "big-block" four-banger under the hood. That's 70 raging horsepower right here. The 5-speed made it more efficient and fun to drive, but killed whatever resale value it may have had.

Here's the new Suzuki Jimny in official photos

Finally! The new generation Suzuki Jimny has been officially revealed, ready to replace the old model built since 1998. Or rather, Suzuki has at least l aunched a microsite dedicated to the small SUV's latest iteration, complete with color palette. The signature Kinetic Yellow launch color gets a similarly noticeable Brisk Blue alternative; the rest of the colors are more muted. Previously, photos of undisguised Jimnys had started coming out of the woodwork. Now we can have an official look at the neatly designed little Suzuki. It's not retro, but completely functional; these shots also show the fender flares missing from the JDM cars. When it comes to vehicles this small, the Jimny might be the boxiest thing produced since the original Fiat Panda ceased to be made in 2003. The rear hatch is the width of the entire rear, making cargo loading easy — the only hindrance we can see is that even on a left-hand-drive vehicle, the hinges are on the right, complicating things a little when one is street-parked. The interior has also survived transition into production quite nicely, with the big infotainment screen placed as high on the dash as possible. The materials on the dash look hard-wearing even in the official render, and the switchgear looks like it can be handled with gloves on. Engine specifications have not yet been announced on Suzuki's site at the time of writing, with the only technical photo a shot of the longitudinal engine perched on the ladder frame, accompanied by a mention of a three-link rigid axle suspension and part-time 4WD complete with low range. There are rumors of optional hybrid tech. Suzuki also says 2.85 million Jimnys have been sold through March 2018: If the pricing (about $18,500 for the old model in Europe) remains affordable, that number is sure to rise nicely. Related Video: Featured Gallery Suzuki Jimny official images Suzuki SUV suzuki jimny