American Suzuki Motor reported today that its automotive division will file for Chapter 11 bankruptcy and “wind down” operations.
According to the company, “The most important thing for you to know is that we intend to continue to operate our Motorcycles/ATV and Marine businesses as usual. We firmly believe the actions we are taking will allow us to continue to deliver the exciting and innovative motorcycle, ATV and marine products that have made Suzuki one of the most famous and reliable names in the industry. And of course, all warranties will continue to be honored – just as they have for the past four decades. Further, parts and service will continue uninterrupted.
“We remain very proud of our high quality motorcycles, ATV and marine products, and we will continue to bring to the U.S. market more of the products that you have come to know and expect, including our full lineup of sportbike, cruiser, touring, scooter, dualsport, motocross, off-road motorcycles and KingQuad ATV line, as well as our flagship DF300AP, state-of-the-art DF20A, and DF15A, among other models. Suzuki will also continue to have a strong presence as a sponsor of teams in supercross, outdoor motocross and road racing.”
Suzuki did not indicate a specific timeframe for the closure of its auto division in the U.S.
Suzuki’s U.S. dealer meeting is scheduled for November 10-12, where the company says it will release information on the rest of the 2013 lineup.
While the company’s sales in the powersports arena took a large hit in the economic downturn, in recent months Suzuki has rebounded in part because of aggressive consumer financing.