Economy stops Suzuki from lending to dealers - DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat
LinkBack Thread Tools Rate Thread Display Modes
post #1 of 1 (permalink) Old 01-01-2009, 07:50 AM Thread Starter

Join Date: Oct 2008
Posts: 336
Feedback: 0 / 0%
Post Economy stops Suzuki from lending to dealers

The ever-tightening credit market is one of the leading causes of crumbling new car sales, but the lack of available credit is also affecting the nation’s dealerships. Many dealerships are struggling to obtain floorplanning funds – the money used to buy inventory – and it looks as though Suzuki dealers might have a particularly tough go of it in 2009.

At a dealer meeting earlier this year, Suzuki vowed to help its dealers lineup necessary floorplanning funds, but is unable to deliver on that promise due to the state of the automotive business.

“The economic crisis has deepened, credit has grown tighter than ever, and our own financial performance has deteriorated both within the U.S. and globally,” Kevin Saito, president of American Suzuki Motor Corp., said in a letter obtained by Automotive News.

Suzuki’s finance arm, American Suzuki Financial Services, does not provide Suzuki dealers with floorplanning financing. However, some Suzuki dealers are currently receiving floorplanning financing from GMAC and Ford Motor Credit.

If dealers are unable to find the financing they need in 2009, it could spell disaster for the Japanese automaker. Suzuki’s sales fell more than 46 percent last month.

Auto Reporter is offline  
Sponsored Links

Quick Reply

Register Now

In order to be able to post messages on the DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

Member names may only be composed of alpha-numeric characters. (A-Z and 0-9)

!!ATTENTION ADVERTISERS!! If you intend on advertising anything on this forum, whatsoever, you are required to first contact us here . Additionaly, we do NOT allow BUSINESS NAMES unless you are an Authorized Vendor. If you own a business, and want to do sales on this site via posting or private message, you will need to follow the rules. Shops, Stores, Distributors, Group Buys without being authorized will see your account terminated.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome