Suzuki to shelve plans for large car - Nikkei

TOKYO Mon Jan 5, 2009 8:30am IST

Suzuki Motor Corp Chief Executive Officer Osamu Suzuki speaks during an interview in Hamamatsu, central Japan in this September 19, 2008 file photo. Friday. REUTERS/Yuriko Nakao

Suzuki Motor Corp Chief Executive Officer Osamu Suzuki speaks during an interview in Hamamatsu, central Japan in this September 19, 2008 file photo. Friday.

Credit: Reuters/Yuriko Nakao

Related Topics

Border Security Force (BSF) soldiers ride their camels as they rehearse for the "Beating the Retreat" ceremony in New Delhi January 27, 2015. REUTERS/Ahmad Masood

"Beating The Retreat" Rehearsals

Rehearsals are on for "Beating the Retreat" ceremony which symbolises retreat after a day on the battlefield, and marks the official end of the Republic Day celebrations.  Slideshow 

TOKYO (Reuters) - Suzuki Motor Corp will shelve a plan to launch large-sized cars in 2010 and delay the start of overseas factories amid a sharp deterioration in the global auto market, the Nikkei business daily reported on Monday.

Suzuki and other automakers are under growing pressure to cut output and scrap capital investment plans as auto demand worldwide, including in India where Suzuki commands around half the market, declines sharply.

Suzuki had planned to introduce a big car based on "Kizashi" concept model that would have had an engine of up to 3.6 litres, in a bid to attract customers looking to upgrade from smaller vehicles.

In an interview with Reuters in September, Suzuki CEO Osamu Suzuki had flagged the likelihood for the project's cancellation, saying it made little sense to launch a car into a shrinking segment of the market.

The Nikkei said the firm also plans to postpone plants in Thailand and Russia in 2010.

Suzuki officials were not immediately available for comment.

Shares of Suzuki rose 3.4 percent to 1,270 yen, underperforming a 4.3 percent gain in the Tokyo stock exchange's transport equipment subindex.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Reuters Showcase

Telecom Sector

Telecom Sector

India postpones mobile airwave auction to March 4.  Full Article 

Business Strategy

Business Strategy

Uber scraps commissions for its New Delhi taxis.  Full Article 

Currencies

Currencies

China's yuan breaks into the world's top five as payment currency - SWIFT.  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Job Cuts

Job Cuts

Sony to cut 1,000 jobs in smartphone business - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage