Words by Christopher Kho
Yep, that's right. American Suzuki Motor Corporation (ASMC), which distributes automobiles, motorcycles, ATVs, marine products, and relates parts and accessories in the US, has gone bankrupt. Well, it's actually a bit worse than that. They're now in the process of filing for Chapter 11 of the U.S. Bankruptcy Code to protect them for a US$346 million debt. Thus, they have decided to stop selling cars in the US, which includes the Kizashi, SX4, Grand Vitara, and Equator.
ASMC has cited “various factors such as economic conditions including the currency exchange rate, market trends, the models of Suzuki automobiles sold in the U.S. which are primarily small cars, ASMC’s projected sales volume, and the stringent U.S. environmental and safety regulations” as their reasons for pulling the plug. On the contrary, they're redirecting all resources to its motorcycle, ATV, and marine business which still looks to be profitable.