BREA, Calif. (WTVA) -- American Suzuki Motor Corporation has filed for Chapter 11 Bankruptcy and announced it will get out of the automobile business in the U. S.
Suzuki officials say low sales, limited model offerings, and foreign exchange rates played a role in the decision.
In a statement posted on the company's website, officials say they intend to focus long-term efforts on the motorcycle/ATV and marine divisions of the company.
Company officials say they intend to sell off the remaining inventories in the U. S. and owners of Suzuki automobiles will be protected.
All warranties will continue to be fully honored and automobile parts and service will be provided to consumers without interruption through ASMC’s parts and service dealer network.
The company began selling vehicles in the U. S. in 1985 with the introduction of the Suzuki Samurai.