Suzuki reported an operating loss of 11.9 billion yen (US$117.1 million) from its motorcycle business for its fiscal year ended March 31, 2013. The loss stems from a 10.7% decrease in motorcycles sales and a 9.6% decline in motorcycle revenue from its 2012-2013 fiscal year. According to Suzuki‘s year-end report, motorcycles accounted for 230.3 billion […]
Suzuki Motor of America Officially Open for Business
American Suzuki Motor Corporation is officially no more, with the company’s operating assets transferred to the newly-formed Suzuki Motor of America, Inc. on March 31, 2013. The new company, a wholly-owned subsidiary of Japan’s Suzuki Motor Corporation, will be the sole distributor of Suzuki motorcycles, all-terrain vehicles, marine engines and automotive parts for the continental U.S. and Alaska.
U.S. bankruptcy court judge Scott C. Clarkson approved American Suzuki’s Chapter 11 plan on Feb. 28, but the plan did not actually start until the end of March. The new company assumes the former company’s warranty coverage, while keeping 832 of 930 Suzuki dealerships. Suzuki Motor of America says it is fully committed to long-term growth in the American market, promising the launch of several new products.
American Suzuki is now in the process of settling all claims with its former car dealer network and trade creditors following the decision to quit the automobile business.
“We are pleased to announce this new company,” says Larry Vandiver, Suzuki’s Motorcycle/ATV vice president. “This is a turning point for our brand and we look toward the future as we continue to offer industry-leading products as Suzuki Motor of America, Inc.”
Suzuki Motor of America also has 20 events for consumers planned for the next few months to showcase its motorcycle and ATV lineup.