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Suzuki has to take out $45M loan just to shutter US dealers

Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The company's 216 dealers have 10 days to make a decision on the matter. Under the plan, Suzuki would give dealer owners half of what they're owed in one lump sum, and the dealers would then be able to pursue the remaining debt through the company's bankruptcy procedure.
U.S. Bankruptcy Judge Scott C. Clarkson granted American Suzuki interim authority to borrow the funds, but Bloomberg reports the company will likely return to court in a few weeks to seek up to $100 million. According to Richard Pachulski, a lawyer for Suzuki America, the automaker may owe its dealers somewhere around $50 million.

Suzuki brings slew of car and bike concepts to Tokyo

As an automaker, Suzuki may be long gone from American shores, but it's still a force to be reckoned with in its home country of Japan. At this week's Tokyo Motor Show, the brand known as much for its two-wheeled fare as its four displayed a slew concept vehicles for both drivers and riders.
The first is the Crosshiker concept (above), which Suzuki says is a followup to the Regina concept that debuted two years ago at the Tokyo show. Based on the same platform but elevated to the stance of a crossover, the Crosshiker is motivated by a 1.0-liter, three-cylinder engine, keeping it eco-chic while appealing to adventurous types with its fun styling.
Next up is the X-Lander Concept (above, left) that Suzuki says was made for use in the city and "sometimes go out to play in the field." Based on the Japanese-market production Jimny, the X-Lander features four-wheel drive and a hybrid powertrain with a 1.3-liter engine.

Four seniors to drive around world in pair of Suzuki Jimny SUVs for charity

Plenty of us here at Autoblog have designs for epic drives. Whether it's bouncing around the country in an old International or heading from Alaska to Chile on a bike, we like to think we have big aspirations. Or at least we did until we heard about these four gentlemen. You see, Leslie George Carvall, Alan Butler, Glyn Maher and Charles Scott are all in their 70's, and they plan to pile into a pair of Suzuki Jimny SUVs and drive around the world. Sort of makes a hike across country seem like a trip down the block to the local corner store. They're calling it "The Ultimate Challenge," and they plan to undertake the journey for two reasons.
First, they want to prove that age shouldn't stand in the way of people doing what they want to do. Second, the group hopes to raise funds for the 'Heaven Can Wait I'm Busy' group, which aims to direct money toward worthy charities both in the UK and around the world. Save the Children and Oakhaven Hospice are the two currently designated charities.
The trip gets started in just three days, and you can head over to the effort's site to track their progress. The route should cover some 16,500 road miles and 10,375 sea miles. You can also catch up with the project on Facebook.