1993 Suzuki Samurai on 2040-cars

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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.

Autoblog Minute: Highlights from the 2015 Tokyo Motor Show

The 44th Tokyo Motor Show is here with plenty of exciting new car reveals, like the stunning Mazda RX-Vision concept and the wild Nissan Concept 2020 Vision Gran Turismo. Autoblog's Chris McGraw reports on this edition of Autoblog Minute, with commentary from Autoblog's Managing editor, Steven Ewing. Show full video transcript text [00:00:00] The 44th Tokyo Motor Show is here with plenty of exciting new car reveals and lots of tech-heavy concept vehicles. I'm Chris McGraw and this is your Autoblog Minute. The Tokyo Motor Show opens to the public but for those unable to make it to Japan Autoblog is on hand to report. For more we go on location to Tokyo and Autoblog's Managing editor, Steven Ewing. [00:00:30] - [00:01:00] [Steven Ewing Interview] And that's your recap of the 44th Tokyo Motor Show, for our detailed coverage of the event be sure to head to Autoblo.com/tokyo-motor-show. For Autoblog, I'm Chris McGraw. [00:01:30] [Outro] Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. Green Tokyo Motor Show Mazda Subaru Suzuki Coupe Concept Cars Autoblog Minute Videos Original Video Tokyo 2015

Suzuki recalling 184k GM-built models for fire risk

Suzuki is recalling 184,244 total units of the 2004-2008 Forenza (pictured above) and 2005-2008 Reno manufactured under contract by Daewoo, now General Motors Korea, between September 1, 2003, through July 30, 2008, for a risk of fire. The exact split in terms of number of each model isn't available yet.
In the vehicles, the heat generated in the headlight switch or daytime running light module could cause the parts to melt and cause a fire. If this sounds somewhat familiar, it's the same reason that 218,000 units of the 2004-2008 Chevrolet Aveo are being recalled. According to General Motors spokesperson Alan Adler: "It's the same issue."
Adler explained that as the contracted manufacturer, GM is responsible for finding a remedy to this problem and providing it to Suzuki. It's a similar situation as Toyota recalling the Matrix and giving the automaker the repair parts to fix the Pontiac Vibe, which shares the platform.