(CN) - American Suzuki Motor Corp. filed for bankruptcy and will stop selling cars in the United States, according to a California bankruptcy filing and industry reports.
American Suzuki filed for Chapter 11 bankruptcy in Santa Ana, Calif., on Monday, listing $100 million to $500 million in assets and liabilities.
Suzuki has 225 U.S. dealers, and sold 21,188 auto vehicles in the United States in the first 10 months of this year, according to the Detroit Free Press, down from nearly 100,000 as recently as 2007.
Suzuki will keep selling motorcycles and ATVs in the United States.
The company builds all its cars in Japan, and was hurt by the strong yen against the dollar.
The Free Press reported today that industry watchers have turned their eyes to Mitsubishi, whose U.S. sales are down by nearly 30 percent this year, to 50,103. Mitsubishi has one manufacturing plant, in Normal, Ill., which shields the company somewhat from currency exchange ratios.
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