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American Suzuki to pull out of U.S. auto market, file Chapter 11 bankruptcy

American Suzuki Motor Corp., beset by low sales, cutthroat competition and unfavorable foreign exchange rates, said it will pull out of the U.S. auto market and file for Chapter 11 bankruptcy protection. The company, in a statement today, said it will continue its motorcycle and marine engine business units and will continue to honor customer warranties.

Ford begins Daventry site transformation

FORD IS to invest millions of pounds in a new, state-of-the-art training facility on its existing site in Daventry, Northamptonshire, as part of a wider forward-looking programme. The new site will merge the capabilities of two existing Ford colleges – the Technical Training Centre located separately at Daventry, and the Henry Ford College in Loughborough, which provides training for technicians, sales staff and management throughout Ford’s national dealer network. Scheduled to open next year, the brand-new centre will replace the existing facilities to become a centre of excellence for training across the country.

Fisker goes to China's Wanxiang

China's Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy. Wanxiang topped Hybrid Tech Holdings during the auction, which began on Wednesday and went through 19 rounds of bidding, with an offer that includes $126.2 million in cash and $8 million in assumed liabilities, Fisker said Friday in a statement. U.S.