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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.

Junkyard Gem: 1996 Suzuki Swift SLOKYO DRIFT Edition

General Motors sold plenty of rebadged Suzukis over the decades in the United States, starting with the Chevy Sprint in 1985 and continuing with various Geo- and Chevrolet-badged machines into our current century. The one we remember best remains the fuel-sipping Metro, successor to the Sprint and available here through the 2001 model year. The Sprint and Metro were based on the Japanese-market Cultus, and Suzuki put its own badges on this car in the United States for the 1989 through 2001 model years. That was the Suzuki Swift, a car we know best today for its factory-hot-rod version, the Swift GT. Normally, I wouldn't bother to document an ordinary Canadian-built Swift found in a boneyard, but today's Colorado-found Junkyard Gem boasts some interesting custom touches that make it worth our attention. Get ready for… SLOKYO DRIFT! While countless American owners of Integras and Lancers and 240SXs went nuts with JDM-influenced car decor following the release of The Fast and the Furious: Tokyo Drift in 2006, drivers of the tiny and miserably underpowered Metro/Swift econo-commuters felt left out of the party. The owner of this car knew what to do, though: buy some stick-on mailbox letters and slap them on this Swift's hatch. Junkyard-acquired badges adorn every surface of the SLOKYO DRIFT Swift, because why not? It turns out that many Reddit regulars in Colorado spied this car on the street, and so you'll find many references to it on that site. Since any 24-year-old econobox with a manual transmission and a salvage title will be nearly impossible to sell, we can assume this car spent its last few years just one broken part away from The Crusher. Once it needed an expensive repair, it wasn't worth fixing. The original owner's manual and documentation remained in this Swift until the end. It appears that Colorado TV-advertising legend Dealin' Doug moved this iron off his Cherry Creek Dodge lot when it had a mere 5,920 miles on the clock, based on this "Phoney Monroney" I found in the glovebox. 168,925 hard miles later, here it is. At some point, it got totaled, put back together, and stamped with this REBUILT FROM SALVAGE lettering on the door jamb. We think of the Metro/Swift as a three-cylinder car, but many of the later versions got this 1.3-liter "big-block" four-banger under the hood. That's 70 raging horsepower right here. The 5-speed made it more efficient and fun to drive, but killed whatever resale value it may have had.

Remembering Suzuki of America... in commercials

American Suzuki Motors is leaving us, but as long as the lights are on at YouTube, its commercials will stay behind to remind of the times we shared. We dug up nine commercials - sort of like a Time Life infomercial for an entire brand - and among the starring actors are the X-90 improving the 90s with the help of a Pez dispenser, the Peter Pan-ish Sidekick, Optimus Prime getting his pipes all smoked up over the 1987 Samurai and an XL7 that would have sold in the millions if its commercial were even half true.
We've also included a remarkably oddball eight-minute featurette/commercial about a giant Suzuki Swift. You'll find the retrospective in the videos below. Enjoy.