1987 Suzuki Samurai-red-4x4-5 Speed-soft Top,on/off Road-like Geo Tracker on 2040-cars

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Suzuki has to take out $45M loan just to shutter US dealers

Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The company's 216 dealers have 10 days to make a decision on the matter. Under the plan, Suzuki would give dealer owners half of what they're owed in one lump sum, and the dealers would then be able to pursue the remaining debt through the company's bankruptcy procedure.
U.S. Bankruptcy Judge Scott C. Clarkson granted American Suzuki interim authority to borrow the funds, but Bloomberg reports the company will likely return to court in a few weeks to seek up to $100 million. According to Richard Pachulski, a lawyer for Suzuki America, the automaker may owe its dealers somewhere around $50 million.

Suzuki posts 46% drop in first-quarter profit on slowing India demand

TOKYO — Suzuki on Monday reported a 46.2% fall in first-quarter operating profit, hurt by lower output at home as it improves its inspection systems, and falling demand in India, its biggest market. Japan's fourth-largest automaker posted an operating profit of 62.7 billion yen (GBP487 million) for the April-June quarter, down from 116.5 billion yen a year earlier and below a mean forecast of 69.09 billion from eight analysts, according to Refinitiv. Suzuki reaffirmed its forecast for full-year operating profit to come in at 330 billion yen, up 1.7% from the year ended March 2019. Suzuki, known for its Swift and Baleno compact models, is bracing for subdued growth this year in India, where roughly one in two cars sold carries its brand. The company stuck to a forecast for vehicle sales to increase slightly on the year, but conceded that it may need to trim its forecasts in the coming months as slowing economic growth and stricter emissions standards could dent sales. Slowing profit growth could hamper its ability to invest in and develop lower-emissions vehicles and on-demand transportation services necessary to survive the technological upheaval currently underway in the global auto industry. The automaker has long acknowledged that it cannot shoulder the costs of developing electric vehicles and self-driving cars on its own, and has turned to Toyota to supply Suzuki vehicles with its gasoline hybrid systems.

Suzuki Kizashi recalled due to pesky spiders

Spiders seem to love the fuel tanks of Japanese sedans. Mazda had to recall its Mazda6 twice for arachnid webs blocking their car's vent lines. Now, the Suzuki Kizashi is also being called in because spiders can block the car's evaporative canister vent hose, a condition which could cause excessive negative pressure in the tank, eventually leading to a crack and fuel leak. The campaign covers about 19,249 examples of the 2010-2013 model year Kizashi built from October 2009 through July 2012.
According to the automaker's defect notice released by the National Highway Traffic Safety Administration, the first report of a spiderweb blocking a vent line was in 2011. It began monitoring field data and found six more incidents from 2011 to 2013. In 2014, there was one more case, and with further investigation, Suzuki decided to initiate a recall. There are no reports of accidents or injuries of the webs causing accidents or injuries in the US.
In a similar move to Mazda, Suzuki is replacing the evaporative canister vent line with one that has a filter in place to keep the spiders out. Also, if the lines are obstructed by webs in a specific vehicle, the fuel tank will also get swapped. Scroll down to read the full recall announcement from NHTSA.