Suzuki Motors, reports show, decided to file for Chapter 11 bankruptcy protection since the automaker saw a major decrease in sales since its peak in 2007.
The automaker is specialized in manufacturing small cars and because of a tough US safety regulation, the newer vehicles manufactured by the company are not being well received by the US market. At this moment, the company is working to make a smooth transition from a sales dealership system into a parts dealer and authorized service provider to Suzuki vehicle owners in the country.
During the last financial year, the company has lost $15.8m. Motorcycles manufactured by Suzuki will still be available.
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