American Suzuki Motor Corporation announced today that it will be filing for Chapter 11 bankruptcy protection and eventually end U.S. auto sales after tough competition and low demand hurt sales in the region.
“Following a thorough review of its current position and future opportunities in the U.S. automotive market, ASMC will wind down and discontinue new automobile sales in the continental U.S,” the company said in a statement. “The Company has determined the best path to achieve this realignment in an efficient and orderly manner is to restructure its operations under chapter 11.”
Suzuki’s U.S. sales for the year through October totaled 21,188 vehicles, down 5 percent from the same period last year.
– By: Omar Rana