Suzuki Motor Corporation filed for bankruptcy Monday, saying it will pull out of the U.S. car market to focus on sales of motorcycles, all-terrain vehicles and boat motors.
The withdrawal marks the end of a business that began in 1985 and never managed to win over U.S. consumers as Toyota Motor Corporation and Honda Motor Corporation did.
"Following a thorough review of its current position and future opportunities in the U.S. automotive market, ASMC will wind down and discontinue new automobile sales in the continental U.S." the Japanese carmaker said in a statement. "The Company has determined the best path to achieve this realignment in an efficient and orderly manner is to restructure its operations under chapter 11."
In 2012, Suzuki has sold just over 21,188 new cars in the United States, down 5 percent from the same period last year.
