Suzuki admits defeat

WEDNESDAY, NOV. 7: Japan’s Suzuki Motors is to pull out of the US market after admitting it has failed  to compete with its rivals.

According to various reports, the firm said its focus on small cars along with stringent US safety regulations had damaged its business growth in the country.

A strong yen, which has resulted in its cars being more expensive for foreign buyers, had also hurt its efforts.

The firm’s subsidiary, American Suzuki Motor Corp, will as a result now file for Chapter 11 bankruptcy protection.

Suzuki said that this move will enable them to “facilitate a smooth transition of the current US automobile dealer sales network into a network of authorized service and parts dealers”.

The company assured customers this would  allow it to fulfil all warranties and provide service facilities to owners of Suzuki vehicles in the US.