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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 Chapter 11 bankruptcy plans approved by US court

It's pretty much a done-deal now, folks. A US bankruptcy judge has approved Suzuki's plans to wind down its operations in the States. As part of Suzuki's Chapter 11 proceedings, its automotive unit will cease to exist in the US, leaving the motorcycle, ATV and marine units to function as Suzuki Motor of America.
It's not clear how many vehicles are left on the 219 remaining Suzuki dealership lots - the company reported sales of 1,764 in February - but the automaker has assured customers that warranty service and parts will remain available. Suzuki made an investment of $45 million to ensure its past and current customers aren't completely left in repair-work limbo.
Check out the complete announcement from Suzuki below for more information, and please join us in mourning the loss of the Kizashi sedan and SX4 hatch, two vehicles we are legitimately going to miss when this whole sordid affair is done and over with.

Suzuki tunes up tiny concepts for Tokyo Auto Salon

When counting Japanese automakers, don't forget Suzuki, which has a trio of new show cars lined up for the Tokyo Auto Salon in a couple of weeks. First up is the Water Activity concept. It's based on the Ignis and done up in a matte-finish army green with orange accents, a canoe strapped to the roof, metallic underbody trim, and bigger wheels. It's not unlike the Ignis Trail concept that Suzuki revealed at the main Tokyo Motor Show a few months ago, but taken in more of an outdoorsy direction than a sporty one. Joining it is the Hustler Rough Road Style, based on the oddball square wagon we first saw in concept form back in 2013 but ruggedized for the rocky trail. To that end it features a jacked-up suspension, knobby little tires, caged-in headlights, and a yellow paint job that makes it look as though it wandered through a paintball arena. It even has its name spelled out on the nose like you'd expect to see on a Hummer or Land Rover, and blacked-out trim on everything from the roof to the door handles. Last but not least is the Alto Works GP, which takes the punchy little hot hatch we reported on just the other day in an even racier direction. It features a blue and acid green livery borrowed from Suzuki's MotoGP bike, complemented by a custom carbon-fiber hood. It'll be displayed at the Japanese tuner expo alongside its two-wheeled counterpart, not to mention a smattering of other vehicles from the company's lineup when the show opens on January 15. Related Video: