1983 Suzuki Sj410 Base Sport Utility 2-door 1.0l Samurai on 2040-cars

Auto blog

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.

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.

Suzuki releases another Baleno image for Frankfurt

The Suzuki Baleno is a tiny five-door that arrives in the UK next summer, but Suzuki is giving its newest model a big reveal at the 2015 Frankfurt Motor Show on Sept. 15. Until then, the soon-to-be-independent Japanese brand is continuing to tease the little guy, promising to "raise the bar for compact hatchbacks." The exterior of the Baleno adapts the iK-2 concept, and the two of them look practically identical. Under the skin, the hatchback gets Suzuki's new platform that's lighter and more rigid. Power comes from a 1.0-liter direct-injected and turbocharged engine that Suzuki calls the Boosterjet. For added propulsion, a mild hybrid layout also allows the starter to provide extra assistance. Until we can actually check the Baleno out in Frankfurt, the gallery above shows all of the teaser images for the compact, so far. SUZUKI BALENO HATCHBACK TO DEBUT AT 66TH IAA FRANKFURT MOTOR SHOW 31/08/15 Suzuki's ideal compact hatchback The all-new Baleno which will make its world premiere at the 66th IAA Frankfurt Motor Show* will raise the bar for compact hatchbacks. Since manufacturing its first car in 1955, the Suzulight, Suzuki has produced a variety of compact cars that deliver value much greater than their sizes. Developed using the company's compact car expertise, the Baleno has an elegant and powerful design, a spacious cabin and luggage space plus a host of new technologies. The new technologies include a rigid, lightweight new generation platform, highly responsive 1.0-litre direct-injection turbo BOOSTERJET engine, and SHVS (Smart Hybrid Vehicle by Suzuki) featuring engine assist by an integrated starter generator. All of these contribute to a fun yet efficient driving experience, giving the Baleno much more than just good looks and convenience. In addition to fulfilling fuel efficiency and dynamic performance expectations, the layout has been optimised and various technologies used to reduce weight in order to meet the rigorous size and weight requirements specific to compact cars. The new Baleno will be launched in the UK early next Summer. Further details of the Baleno will be disclosed at the Suzuki press conference at the Frankfurt Motor show. The conference will be held at 1.15pm on Tuesday 15th September. We look forward to welcoming you on stand B12 in Hall 9.0. Learn more at http://www.globalsuzuki.com/iaa2015/, a special Baleno website. *At Messe Frankfurt, Frankfurt am Main; press days 15-16 September, public days 17-27 September. ENDS.