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Suzuki heads rolling over fuel economy scandal

Suzuki Motor Corporation executives admitted last month that the company had been falsifying fuel-economy tests for some of its vehicles. Today, it was announced that chairman Osamu Suzuki will not become CEO and executive vice president Osamu Honda will step down from his position at the next shareholder meeting, which takes place June 29. Executive bonuses for 2015 will also be eliminated or cut in half. The company is also promising to change its corporate culture so as to allow whistle blowers to get their messages heard. "Suzuki has a top-down culture and it's been difficult for voices from lower down to go to the management," Toshihiro Suzuki (Osamu's son) told reporters, according to Bloomberg. Both Suzuki family members will take a pay cut for the last half of 2016 (Osamu at 40 percent, Toshihiro at 30). Over 2 million Suzuki vehicles were involved in the fuel economy fakery. Japan's transport ministry is taking a closer look at company-submitted data after Mitsubishi and then Suzuki were found to have misled regulators and the public. Related Video: News Source: BloombergImage Credit: KAZUHIRO NOGI/AFP/Getty Images Government/Legal Green Hirings/Firings/Layoffs Suzuki Fuel Efficiency resignation osamu suzuki

Volkswagen forced to sell stake in Suzuki

The six-year-long failed marriage between Volkswagen and Suzuki has finally come to an end. Almost. An arbitration panel in London issued its final verdict which, according to a VW press release, cleared Suzuki in terminating the agreement, so VW now needs to get rid of its 19.9-percent share. However, the tribunal's decision said VW performed all of its obligations and Suzuki didn't – the Japanese carmaker should have given VW last-call rights for a delivery of diesel engines, but failed to. The breach opens Suzuki up to damage claim, but so far VW only says it reserves the right to sue. Now that Suzuki has an outside investor to provide funds it meant to get from VW, perhaps both can get back to their reasons for being. The press release is below. Ruling in arbitration proceedings: Cooperation between Volkswagen and Suzuki deemed terminated - Arbitral tribunal confirms Volkswagen met contractual obligations and finds that Suzuki has ordinary right to terminate agreement based on reasonable notice - Volkswagen to dispose of its 19.9 percent stake in Suzuki and expects positive effect on Company's earnings and liquidity from transaction - Arbitrators also find that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has right to claim damages Wolfsburg, 30 August 2015 - An arbitral tribunal in London has announced its ruling in the dispute between Suzuki Motor Corporation and Volkswagen Aktiengesellschaft. As a result, cooperation between the two parties is deemed terminated. The arbitrators confirmed that Volkswagen met its contractual obligations under the cooperation agreement and found that Suzuki has terminated the agreement upon reasonable notice. Volkswagen will therefore now dispose of its 19.9 percent stake in Suzuki and expects a positive effect on the Company's earnings and liquidity from the transaction. The arbitral tribunal also confirmed that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has the right to claim damages. "We welcome the clarity created by this ruling. The tribunal rejected Suzuki's claims of breach and found that Volkswagen met its contractual obligations under the cooperation agreement. Nevertheless, the arbitrators found that termination of the cooperation agreement by Suzuki on reasonable notice was valid, and that Volkswagen must dispose of the shares purchased.

Suzuki brought a retro hybrid coupe and an autonomous van concept to Tokyo Motor Show

Update: More photos and details of these Suzuki concepts have surfaced since their official reveal at the 2019 Tokyo Motor Show. Turns out, the Waku Spo coupe can also be a wagon. We love it. When you swap in the wagon rear end, the rear seat slides back and automatically reclines. All of a sudden, the sporty coupe has turned into a somewhat roomy wagon kei car. Its interior features a fully digital dash that will actually simulate wood grain on the passenger side when in the Normal drive mode. When sport mode is selected, the "wood grain" transforms into a massive screen of dials and vehicle information. The Suzuki Hanare is the van pictured in the gallery and further below. Its drive wheels feature in-wheel electric motors, and the interior is all about customization. The folks in Suzuki's press photos look happy to be hanging out by their Hanares, and we think we'd be pretty happy too. One of the vans has a bar; the other has a massive screen with a map, and the middle van is full of storage for outdoor activity supplies. Lastly, Suzuki showed us the Hustler Concept. It's essentially just a Hustler made to look like an off-road kei car. We're picking up the Jimny vibes Suzuki is laying down. It's wonderfully boxy and features a bevy of neat accessories. Suzuki is celebrating its 100th anniversary at this year's Tokyo Motor Show. To mark the occasion, the company has created two unique concepts that look to the past for style, and the future for powertrain and use cases. One is called the Waku Spo, and the other is the Hanare. The Waku Spo is pictured above, and it's a plug-in hybrid with styling rooted in '60s Japanese cars. It's simple and squared off save for the wide fender flares and charming round headlights. There are dashes of chrome trim around the car and two-tone paint. The fender-mounted rearview cameras are a high-tech twist on a classic Japanese car feature. But if this design doesn't appeal to you, Suzuki says body and interior parts can be quickly switched out so each driver can have a car that's personalized to their tastes. While the Waku Spo is a more traditional, driver-oriented car, the Hanare is more of an autonomous pod. According to Suzuki, Hanare translates to "cottage" and the theme of the van is to be your home away from home. It's meant to be a mobile room to do whatever you want. It also looks like it's intended to be private and secluded, as the only windows are slender pieces that wrap around the roof.