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Wiesmann Files for Bankruptcy 15
Aug
Posted by Kelly Levinsohn in Automotive News, Bankruptcy, Popular, Super car news, Wiesmann on 08 15th, 2013

Wiesmann_Logo

Wiesmann, the German sports car manufacturer, has landed themselves in a bit of trouble!

The company has reportedly filed for bankruptcy. The official filing was made to a district court in Munster, but it had not specified any financial details.

However, the collapse of the company doesn’t come as a big surprise – their product line-up hasn’t seen many changes over the last couple of years.

Wiesmann opened it’s doors in 1993 and specialized in building both retro and futuristic sports cars. The engines and transmissions for these cars were supplied by BMW.

Sadly, according to reports from Motor Talk in Germany, the company had only been producing around 200 cars per year.

Two of Wiesmann’s most potent and successful models, the 547-horsepower GT MF5 and the track-ready GT MF4-CS are both wonderful cars with a performance like none other.

Only time will tell whether this truly is the end of Wiesmann, and if the company can still manage to get back on it’s feet. Here’s holding thumbs they do!

Gallery: The GT MF5 and the GT MF4-CS –

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Source: Autoblog



Suzuki’s U.S. Car Business Throws In The Towel 6
Nov
Posted by Kurt Ernst in Automotive, Bankruptcy, car sales, Kurt, News, Suzuki on 11 6th, 2012

Suzuki’s Kizashi sedan – image: Suzuki Motor Corp

After nearly three decades of struggling for success in the U.S. market, Suzuki Motor Corporation will cease selling cars in the United States. The news came with the announcement that its sole U.S. distributor, American Suzuki Motor, had filed for Chapter 11 bankruptcy, citing $346 million in debt and $233 million in assets.

As Bloomberg Businessweek reports, Suzuki has no plans to shutter dealerships, which will be used to provide service for vehicle owners. The automaker plans to sell through its existing stock of vehicles, so no specific date has been set for its departure.

While most automakers enjoyed growing U.S. sales in 2012, Suzuki saw its tiny market share shrink even further. Through October, it had sold just 21,188 new vehicles; by comparison, Hyundai sold 50,271 new vehicles in the U.S. in October alone. Despite building solid cars, the automaker’s lack of advertising and weak dealer network plagued sales, as did over-hyped reports of danger with Suzuki’s early SUV offerings.

Worse, when the brand had marketing dollars to spend, it wasted them in bizarre campaigns. It’s hard to forget the media blitz that attempted to position the Kizashi sedan against the Audi A4 and BMW 3 Series instead of targeting cars like the Volkswagen Jetta and the Nissan Altima.

Suzuki will now turn its attention to India and Asian markets, where it enjoys strong sales against rivals like Hyundai and Toyota. Expect no changes for Suzuki’s motorcycle , ATV and marine engine business in the U.S. market.







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