Deals
Suzuki Forced Out of China as Buyers Continue to Favor SUVs
- Japanese minicar maker ends Changan alliance after 25 years
- Exit leaves Suzuki increasingly focused on Indian market
Photographer: Akio Kon/Bloomberg
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Suzuki Motor Corp., the Japanese manufacturer known for its minicars, exited China as consumers in the world’s biggest auto market shifted purchases to larger sedans and sport utility vehicles.
Suzuki agreed to transfer its 50 percent stake in Changan Suzuki -- its last remaining Chinese venture -- to Chongqing Changan Automobile Co. as soon as legal proceedings are completed, according to a statement Tuesday. Changan will continue to make and sell Suzuki-branded cars in China under a license.