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Thread: Random International News thread

  1. #101
    Rusted shrinathrao's Avatar
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    Default Suzuki to file for bankruptcy in US, focus on motorcycles

    Suzuki to file for bankruptcy in US, focus on motorcycles - The Economic Times

    TOKYO: Japan's Suzuki Motor Corp said it will shutter its unprofitable automobile sales business in the United States and instead focus on its motorcycle, ATV and marine boat sales, as it fights a strong yen and slumping U.S. demand for its small cars.

    American SuzukiBSE -1.70 % Motor Corp, the sole distributor of Suzuki Motor Corp vehicles in the continental United States, will file for Chapter 11 bankruptcy protection with $346 million in debt, of which $173 million is owed to Suzuki group companies, it said.

    Japan's No. 4 automaker said in a statement that it would be unable to maintain profitability in its automobile business in the United States, given the currency rate and its automobile lineup, made up primarily of small cars.

    American Suzuki, which sold 2,023 vehicles in the United States last month, plans to compensate car dealers as it phases out automobiles to focus on motorcycles, ATVs and marine boat products.

    Shares of Suzuki were down 1.7 percent at 1,802 yen in early morning trade.

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

    ASMC "recognised it will be unable to maintain profitability with respect to its automobile marketing business", the firm said in a statement.

    The Suzuki division, which employs about 365 people, said it has faced difficulties from the value of the Japanese currency and weak demand for its compacts in the US market.

    The yen, which hit record highs against the dollar last year and remains strong, has dented Japanese manufacturers by making their products less competitive overseas while eroding the value of repatriated foreign income.

    Suzuki's US unit said it would "redirect" its resources to the sale of motorcycles, ATVs and marine products "where the prospects for profit are good".

    Warranties on vehicles already sold in the US market would be honoured despite the filing, it added.

    The Japanese firm has focused much of its attention on emerging markets including India where its profitable Maruti SuzukiBSE -1.70 % joint venture is the nation's biggest automaker.
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  2. #102
    Moderator Samarth 619's Avatar
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    Topic Merged to Random News Abroad thread.

    It hardly affects us. The news states that th motorcycle business would be focused upon, so no worries.

  3. #103
    Moderator B7ACKTHORN's Avatar
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    Quote Originally Posted by Samarth 619 View Post
    Topic Merged to Random News Abroad thread.

    It hardly affects us. The news states that th motorcycle business would be focused upon, so no worries.
    +1. But still Chatper 11 is kind of an embarrassment for a company such a caliber, but S**T happens. As long as the two wheeler segment is unaffected, there shouldn't be any worries I guess.

    Cheers!
    VJ
    Once upon a time, a guy asked a girl 'Will you marry me?'
    The girl said, 'NO!'


    And the guy lived happily ever after and rode motorcycles and watched sport on a big screen TV, went fishing and surfing, and played golf a lot, and drank beer and scotch and had tons of money in the bank and left the toilet seat up and farted whenever he wanted.


    THE END

  4. #104
    Rusted princesirohi's Avatar
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    quite surprising news and shocking too, suzuki is not a small player, its a global company and one of the major automobile manufacturer. but its just the shutdown of one division- US sales division.

    does it means it does not have any 4-wheeler manufacturing base in US...??

    thankfully bike business is out of danger.

    did the report mentioned india, hmmnn... maruti is suzuki's ..."sone ka anda dene wali murgi"

  5. #105
    Rusted Nithesh's Avatar
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    This was already predicted back in 2010. Suzuki, Mitsubishi and i cant remember the other japanese company are facing poor sales in the US.. Suzuki was at the bottom of the chart. Mitsubishi's EV might workout for them.. only time will tell.
    Got a $5 head? Get a $5 helmet.

  6. #106
    Rusted Prakritij's Avatar
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    MV Agusta Rivale 800 Unveiled

    Here is the new MV Agusta Rivale 800 in the flesh. Whether you like the styling or not, it is certainly striking and further evidence that MV follows its own direction.

    http://www.motorcycledaily.com/2012/11/mv-agusta-rivale-800-unveiled/


    RIDE SAFE

  7. #107
    Moderator B7ACKTHORN's Avatar
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    Quote Originally Posted by Prakritij View Post
    MV Agusta Rivale 800 Unveiled

    Here is the new MV Agusta Rivale 800 in the flesh. Whether you like the styling or not, it is certainly striking and further evidence that MV follows its own direction.

    http://www.motorcycledaily.com/2012/11/mv-agusta-rivale-800-unveiled/


    RIDE SAFE
    I think it's about time, Ducati needs to think out of the box, something radical. Hope this doesn't make their pants crap!

    Cheers!
    VJ
    Once upon a time, a guy asked a girl 'Will you marry me?'
    The girl said, 'NO!'


    And the guy lived happily ever after and rode motorcycles and watched sport on a big screen TV, went fishing and surfing, and played golf a lot, and drank beer and scotch and had tons of money in the bank and left the toilet seat up and farted whenever he wanted.


    THE END

  8. #108
    Rusted princesirohi's Avatar
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    it looks new, and different, but does not appeal to me.

  9. #109
    Moderator B7ACKTHORN's Avatar
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    It appeals to who have EMOTIONS, as clearly stated in the text. Lol No hard feelings.

    Cheers!
    VJ
    Once upon a time, a guy asked a girl 'Will you marry me?'
    The girl said, 'NO!'


    And the guy lived happily ever after and rode motorcycles and watched sport on a big screen TV, went fishing and surfing, and played golf a lot, and drank beer and scotch and had tons of money in the bank and left the toilet seat up and farted whenever he wanted.


    THE END

  10. #110
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    SportsterIron 883 is most attractive bike with good money value and mileage

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