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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.

2016 Suzuki Baleno is the 'ultimate' hatchback [w/video]

Suzuki unveiled its iK-2 concept at this year's Geneva Motor Show to imagine an inexpensive, compact hatchback for the future. Now just a few months later the Japanese brand has brought that shape to production largely unaltered with the Baleno. The company claims that it's trying to create the ultimate small car, and European customers get to find out in spring 2016. The Baleno doesn't break new ground in five-door hatch styling, but it's an unpretentious and handsome take on the traditional two-box look. The front end flows in an arc up to the windshield, and from the A-pillar back, the design sports a chunky, utilitarian shape. The interior looks somewhat staid with a lot of black plastic and cloth, but silver trim mixes up the monotony. Underneath the new look, Suzuki is making some big improvements. The Baleno rides on a new platform with less weight and more rigidity. The powertrain range also includes the brand's latest 1.0-liter turbocharged three-cylinder engine with 110 horsepower and 125 pound-feet, and it can be hooked up to either a five-speed manual or six-speed automatic. There's also a 1.2-liter four-cylinder with 89 hp and 89 lb-ft available with the same five-speed or a CVT. In addition, the mill is offered with as a mild hybrid with an Integrated Starter Generator. Suzuki says this option boosts acceleration at low speeds but doesn't specify how much extra power there is. Check out the company's promo video below to see the Baleno in motion. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. INTRODUCING THE BALENO Sep 15, 2015 When Suzuki set out to create a hatchback like none before, it first established a key guideline—hold back on nothing. The result is the Suzuki Baleno, a harmonious combination of styling that flows, superb performance achieved through ground-breaking technologies, and smart packaging. To create a new, bar-raising hatchback that is fun to drive and engineered to meet today's consumers' needs, Suzuki wanted to take the compact car to the ultimate level. Baleno chief engineer Kunihiko Ito explains: "We set our sights on developing the ideal hatchback, one that makes no compromises, giving it an elegant, sophisticated and grown-up character.

Suzuki Jimny pickup concept heading to Tokyo Auto Salon

Some of the best news this year is coming at the tail end of 2018. Suzuki's Jimny is already pretty awesome, but for the upcoming 2019 Tokyo Auto Salon, Suzuki is preparing something quite special for its little off-roader: a Jimny pickup! Suzuki based the concept on the Sierra trim level. The truck is designed to be an active sidekick for customers who need the convenience of a pickup for either DIY stuff or adventuring. The retro style is immensely cool: gold bodywork, wood sides, different grille, light bar, white roof and matching white wheels with chromed hubcaps — the entire thing is like a 1970s Suzuki aftermarket parts catalogue applied to a new Jimny. The cab has been shortened to ditch the rear seats, and a short bed has been tacked on without lengthening the wheelbase. If you ask us, the wheelbase even looks shorter than stock. Accompanying the pickup is a "Survive" concept that looks ready for adventuring. The stock bumpers have been replaced with sturdy metal ones that improve the approach and departure angle. There's also an external rollover cage, a winch, custom wheels and some Defender-style aluminum diamond plate. Suzuki says the Jimny Survive has been outfitted for traversing "severe nature" under extreme conditions. We'd happily take both of these mountaineering or even for a weekend trip to the cottage. While both of these trucks are obviously concepts, they show the direction where a Jimny owner could feasibly take their truck. And since some earlier generation Jimnys have been available as pickups, it's not totally improbable to imagine a production Jimny pickup somewhere in the next decade. Here's hoping. Related Video: Image Credit: Suzuki Tokyo Motor Show Suzuki SUV Concept Cars suzuki jimny