End of an Error: American Suzuki Files for Bankruptcy, Will No Longer Sell Cars in U.S.
Welp, we saw this one coming. In a not-so-breaking news story, Suzuki’s American subsidiary has filed for Chapter 11 bankruptcy and will be completely exiting the automotive market here in the U.S. In a statement released by American Suzuki Motor Corporation (ASMC), they credited the failed market to a number of different reasons:
“These challenges include low volume sales, a limited number of models in its line-up, unfavorable foreign exchange rates…and the disproportionately high and increasing costs associated with stringent state and federal regulatory requirements unique to the U.S. market.”PHOTOS: See more Suzuki Cars Although, in general, Suzuki’s U.S. market as a whole grew to nearly 14% in 2011, Suzuki sold just over 21,000 cars from January to October of this year, one of the lowest sales numbers in the market. While Suzuki will no longer sell cars here in the U.S., they said they will still focus heavily on the popular motorcycle and marine market.