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Suzuki has to take out $45M loan just to shutter US dealers

Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The company's 216 dealers have 10 days to make a decision on the matter. Under the plan, Suzuki would give dealer owners half of what they're owed in one lump sum, and the dealers would then be able to pursue the remaining debt through the company's bankruptcy procedure.
U.S. Bankruptcy Judge Scott C. Clarkson granted American Suzuki interim authority to borrow the funds, but Bloomberg reports the company will likely return to court in a few weeks to seek up to $100 million. According to Richard Pachulski, a lawyer for Suzuki America, the automaker may owe its dealers somewhere around $50 million.

Suzuki recalls 2 million cars globally

Suzuki is recalling two million vehicles across the globe, including a number of Chevrolet Cruze sedans that it builds for General Motors, because the ignition switches may begin to smoke. None of the Cruzes being recalled were sold in the US, though. This recall is limited to the Japanese, European and Australian markets. In Suzuki's home market, 1,873,000 vehicles are being recalled, including the Cruze and a number kei cars built for Mazda (the Carol and AZ-Wagon), as well as the automaker's own Alto, Wagon R and Swift. Affected vehicles were built between 1998 and 2009. The remaining 133,000 vehicles include Cruzes and other Suzuki products sold in Europe and Australia. There have been no reports of injuries or accidents due to the 67 reported incidents, all of which come from the Japanese market, a Suzuki spokesperson told Automotive News. Related Video:

2019 Suzuki Jimny First Drive Review | Internet darling, real-world riot

FRANKFURT — Imagine a Mercedes G-Wagen hit with an incredible shrinking ray, and you'll not be far short of the new fouth-generation Suzuki Jimny, last sold in North America in the mid-1990s as the Samurai. The resemblance is astonishing, but there's enough of the Land Rover Defender, Toyota FJ, Honda Element and Jeep Wrangler in there, too, to keep Merc's copyright lawyers sitting on their hands. Cute as a family of otters in your bath, the new Jimny's proving the social-media hit of the fall, with online fan clubs starting, splintering and re-forming as they argue over which of the six new body colors is their favorite. Yet Jimny's no style pony. That lime green 'Kinetic Yellow' color might be the ultimate urban accessory, but it's formulated to make this tiny utility stand out in bad weather and on building sites. And in a world of fragile multi-clutch-based all-wheel-drive crossovers, Jimny is the real deal: body-on-frame construction, coil-sprung solid axles with three-link location at the rear and a panhard rod at the front, and a transfer-box set of crawler gears. And with entry, exit and breakover angles and ground clearance to rival that of a mountain ibex; this is a proper all-terrain automobile, just at five-eighths scale. It all started of course with Hope: the Japanese Hope Motor Company. Its OM360 was a 1960s Lilliputian take on the World War II Willys MB Jeep. Suzuki bought the design from Hope, and relaunched it with a new engine in 1970 as the first Jimny. Through three generations and 48 years, Jimny's been called variously: SJ; LJ; Farm Worker; Samurai; Gypsy; and Sierra. It's been rebadged as a Mazda and a Maruti, and has sold a total of 2.85 million across 194 countries, including at one time America, though the company pulled out of the U.S. car market in 2012. The outgoing third-generation Jimny had lost its way with a bland, wind-cheating design. The new Jimny is back to basics. Shortened by 1.2 inches, it's now 143.5 inches long, 64.8 inches wide, 67.9 inches high and runs on an 88.6-inch wheelbase. These bonsai dimensions are dictated by the Japanese Kei car, a size and taxation class aimed at tight urban spaces. The new car also gets a stronger, cross-braced ladder frame under the separate body isolated on eight rubber bobbins.