American Suzuki joins legion of former carmakers, files for bankruptcy
Citing poor sales, vast competition and bad exchange rates, the California-based American Suzuki Motor Corp. will end its U.S. auto business and file for Chapter 11 bankruptcy protection. While continuing its motorcycle and marine engine business units, Suzuki, which began its U.S.-based business in 1985, will making models such the Samurai, Sidekick SX-4, XL-7, Vitara, Grand Vitara and its most expensive model, the Kizashi. Suzuki Japanese parent company, Suzuki Motor Corp., is not filing for bankruptcy, the company said, while adding the American company, which has about 245 U.S. dealers, will honor customer warranties; “While the decision to discontinue new
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