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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.

Suzuki calls in 26,000 Daewoo-built Veronas for overheating lights

Suzuki is recalling yet another Daewoo-built model due to possible problems with the daytime running light module in the instrument panel. This time it covers about 25,899 units of the Suzuki Verona from the 2004 through 2006 model years that need fixing. Like the repair campaign of the Forenza and Reno in May, it's possible for the part to overheat, melt and potentially cause a fire.
According to the Chronology of Principal Events section in the defect notice submitted to the National Highway Traffic Safety Administration, this recall was actually a direct result of the Forenza/Reno campaign. After finding the problem in those vehicles, General Motors Korea started investigating for more affected models and discovered that the Verona was also at risk. However, the report says that no cases of melting or fires have been found in the Verona.
Obviously, Suzuki will be notifying affected owners and will replace the DRL module free of charge. Scroll down to read the recall request or check out the full defect notice in PDF format, here.

The Suzuki Misano is a concept car inspired by motorcycles

Lately, concept cars have become showcases of touchscreens and batteries, but remember not that long ago when they used to get you excited about automobiles, driving, and design? Now Suzuki, of all companies, has unveiled a concept that brings us back to the stirring show cars from a bygone era. The Suzuki Misano is a low-slung, open-top sports car that asks the question, what if there was a four-wheeled motorcycle? Inspired by the Japanese firm's long history of high-performance two-wheelers, the Misano seeks to "merge the adrenaline rush on two wheels with the driving experience on four." The Misano caps off a thesis project for 24 students of transportation design at Istituto Europeo di Design Torino with collaboration from Suzuki. It has a footprint of 157 inches by 69 inches, or about the length of a BMW i3 and the width of a VW Polo. Its height, however, measures only 39 inches, about 50 percent shorter than a Toyota Yaris hatchback. Like concept cars of old, the Misano does pack in one wacky idea that has no chance of making it into production. It offers a tandem 1+1 seating position, even though it's wide enough for a side-by-side construction. Not only that, but the seats are off to one side. We would've expected a side-mounted motorcycle engine on the other, but it actually contains a trunk and small battery pack. Presumably, the Misano is an EV. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Strictly speaking, it's a barchetta because it has no mechanism for covering the cockpit and barely a windscreen. In lieu of a steering wheel, the car is controlled by what the IED statement calls a motorcycle-inspired yoke. Clear openings in the doors provide a view of the road that only a motorcycle can match. It's not the first time Suzuki has answered the question of a four-wheeled motorcycle. In 2001, it showed the Hayabusa-powered GSX-R/4 concept, which featured a more traditional seating position. The Misano is just the right amount of beautiful design and bonkers-ness that makes you wish for an alternate universe where it would make it into production. But alas, we know it'll be a miracle if Suzuki ever makes a sports car again. If you happen to be in Italy and want to check out the Misano for yourself, it will be on display at the Museo Nazionale dell’Automobile di Torino from Saturday May 15th to Sunday June 6th 2021. Related video: This content is hosted by a third party.