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Court approves Suzuki bankruptcy plan

Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the conditions.
Suzuki will now sell its motorcycle, ATV and marine divisions to the newly minted Suzuki Motor of America subsidiary under the Suzuki name. The new company will be wholly owned by Suzuki Motor Company. This is the final piece of the company's restructuring puzzle.
The company says it will now be able to grow its powersports businesses here in the US and also provide auto parts and service to current Suzuki owners through what's left of the company's dealer network. You can check out the brief press release on the bankruptcy plan below.

Suzuki's Paris display is a sad reminder we don't get quirky little Japanese cars anymore

The fun thing about foreign auto shows is getting to see all the cars we don't get at home. In the case of Suzuki, it's a reminder that the brand withered in the US and withdrew due to a lack of product a few years back. What makes it even tougher is that Suzuki's stand in Paris is full of little all-wheel-drive things that would probably do really well in the US now. Talk about bad timing. Take the Ignis above. This thing is about the size of a Mazda CX-3, offers all-wheel drive, and manages to look cute and sophisticated at the same time. Americans would buy it. The SX4 S-Cross, which evolved from the SX4 that did surprisingly well a decade ago in the US, gets an update this year and looks a lot more like a crossover, an improvement on the original funky tall-hatch design. If only Suzuki could have held on a little longer the brand might be taking some sales from Subaru and the many makers of little crossovers. We can't leave here without mentioning the wonderful beigeness of the Cervo hatch that Suzuki brought out to tie the Ignis in with its heritage. It's a rear-engined three-cylinder two-stroke with a Giugiaro-designed body. Yep. The model was never sold in the US, but it was known as the Whizzkid in the UK, which is just fantastic. And its adorable tiny wheels – they looked like 12s or so – are pretty highly stylized. They're actually mirrored by the five-pocket wheels available on the Ignis, which is a nice touch. Related Gallery 2017 Suzuki Ignis: Paris 2016 View 13 Photos Related Gallery 2017 Suzuki SX4 S-Cross: Paris 2016 View 10 Photos Paris Motor Show Suzuki Crossover 2016 paris motor show suzuki ignis

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.