Japan’s Suzuki shuts down US car business

Japan’s Suzuki said on Tuesday it would shut down its money-losing car business in the United States and file for bankruptcy, citing a strong yen and weak demand for its small cars in the US market.

But American Suzuki Motor Corp (ASMC), which said it had debts of US$346 million, added that it would continue selling motorcycles, all-terrain vehicles and marine products – such as outboard motors – in the country.

Suzuki sold about 26,000 vehicles in the US in 2011, a fraction of rival Japanese automakers such as Toyota, Nissan and Honda.

via Business feed http://www.scmp.com/business/companies/article/1076217/japans-suzuki-shuts-down-us-car-business