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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 concepts are exploring mountain trails and the culinary arts

Attention is already on Suzuki products headed to the upcoming Tokyo Auto Salon thanks to Japanese tuner DAMD. The company turned two Suzuki Jimnys into the Little 5, a tribute to Renault's 5 Turbo and 5 Turbo 2, and the Little Delta, a tribute to the Lancia Delta Integrale. Suzuki's got a trio of its own creations on the way as well, highlighted by new conceptual takes on the Swift hatchback and Spacia kei van that differ from the ones shown during the Tokyo Auto Show. The star player is the new, fourth-generation 2024 Swift hatchback (below) that's probably best considered an evolved third-gen, here called the Swift Cool Yellow Rev Concept for not-exactly-obvious reasons. Solely a flashy cosmetics package, the design drapes a black roof and black roof pillars over a greenish yellow body and dinky black wheels. The grille wears gloss black above a front splitter, the LED headlights and taillights get smoked lenses, and the vinyl wrap advertises the arrival of the front-wheel-drive variant that went on sale in Japan in December.     Show-goers could be more captivated by the Super Carry Mountain Trail Concept, shown up top. Built atop Suzuki's Super Carry commercial truck sold in places like Japan, India, and Southeast Asia, it looks like a shrunken version of an overlanding build we'd see at SEMA; the Super Carry retail model stretches just 11 feet long — 20 inches shorter than a two-door Mini Cooper — and uses a 658-cc engine. The exterior roll cage and tube doors set the tone immediately. Dimensionally proportionate gear runs from the roof rack and light bar to the off-road racing bucket seats, grilles over the side and rear windows, front skid plate and D-rings, Hi-Lift jack strapped to a riser in the bed, and little knobby tires on little off-road wheels. Smoked headlight lenses make their way to this creation, too. This one's reported to be a concept only, meant to show audiences the potential in commercial vehicles outside the workplace.  Finally, there's the wonderfully named Spacia Papa Boku Kitchen Concept. This slightly adventurous kei car disguise outside hides a kitchen in the cargo bay. We'll find out what the chef's area looks like during the show, but designers are said to have envisioned a space where parents and kids can bond over cooking adventures while camping.   The Tokyo Auto Salon is putting this and all sorts of other novelties on display in Chiba City, Japan, January 12-14.

Suzuki and Daihatsu join Toyota electric vehicle venture

TOKYO — Suzuki Motor Corp and Daihatsu are joining a commercial electric vehicle coalition led by Toyota Motor Corp, the carmakers announced on Wednesday, helping the Japanese alliance expand its focus from trucks to smaller cars. The two automakers will each acquire a 10% stake in the joint venture, on par with Isuzu Motors and Hino Motors, while Toyota will hold a 60% stake, they said. "With Suzuki and Daihatsu joining the project and working together, we'll be able to expand our circle of cooperation to not only cover commercial vehicles but also mini vehicles," said Toyota President Akio Toyoda. "With this expansion, I believe that we'll be able to take one step closer to a better mobility society," Toyoda said. The move comes as Japanese automakers face growing competition from tech giants and other rivals making electric and driverless cars. Toyota, Isuzu and Hino launched the Commercial Japan Partnership Technologies Corporation in April to bolster their competitive edge in connected, commercial vehicles. Daihatsu's president Soichiro Okudaira said joining the pact and introducing connected, mini-commercial vehicles would allow data sharing, a major benefit for companies to provide better services to customers and improve logistics efficiency. (Reporting by Eimi Yamamitsu; Writing by Ritsuko Ando; Editing by Louise Heavens) Related Video: Green Suzuki Toyota Daihatsu Electric Akio Toyoda