BREA, Calif. -

Late Monday, American Suzuki Motor Corp. offered an update on the amount of franchised dealerships in its network that have agreed to terms of the automaker’s dealer settlement as part of its previously announced bankruptcy, restructuring and realignment.

As of the early return deadline of Nov. 30, ASMC said 213 of the 219 automotive dealers accepted terms of the agreement, which officials explained are intended to compensate dealers and enable them to transition uninterrupted from automobile sales to provide critical warranty and service repair work and parts for hundreds of thousands of Suzuki vehicle owners.

The final return deadline for ASMC dealer settlement agreements is Dec. 28. Officials said all decisions are subject to bankruptcy court approval.

“We are pleased to have reached agreements with all of our top 50 automotive dealers and that the total number of acceptances represents more than 98 percent of the total volume of automobile sales for ASMC in the continental U.S.,” said Freddie Reiss, ASMC’s chief restructuring officer.

“We greatly value our relationship with our customers, and it is very important to us that they continue to receive the necessary support from ASMC during and after our restructuring,” Reiss continued. “As these agreements demonstrate, we are working within our current U.S. Automotive dealer network to help structure a smooth transition from new automobile sales to exclusively parts and service operations.

“Based on dealer acceptances, we continue to believe our restructuring and realignment will be completed in a timely manner,” he went on to say.

As previously announced, ASMC intends to market and sell its remaining U.S. automobile inventory through its automotive dealer network, many of whom have expressed interest in continuing to order and receive shipments of Suzuki automobiles as long as they remain available.

ASMC continues to provide marketing and incentives to help promote the continued sale of the automobiles remaining in dealer inventory and the pipeline. All automobile warranties will continue to be fully honored, in accordance with their terms, and parts and service will continue to be provided to consumers through ASMC’s parts and service dealer network.

On the same day it shared an update about dealer settlement agreements ASMC reported its November sales. The company turned 2,224 units, marking a 22-percent increase compared to the same month last year.

Officials said this sales growth was fueled in part by strong consumer response to the continued availability of zero-percent financing for up to 72 months for qualified customers through an agreement with Ally Financial.

Along with the financing option, Suzuki offers basic warranty coverage for 36 months or 36,000 miles (whichever occurs first), as well as powertrain warranty coverage for seven years or 100,000 miles (whichever occurs first) for new vehicles in the U.S.

“American Suzuki Motor Corp. is pleased with our strong monthly vehicle sales for November, and we look forward to working with our valued dealers across the country to ensure that remaining U.S. inventory is sold in the coming months,” Reiss said.

“Now is a great time for customers to consider Suzuki’s attractive financing options and the full commitment to vehicle warranties, parts and continued service in place across our complete range of vehicles,” he added.

ASMC announced on Nov. 5 that it plans to realign its business to focus on the long-term growth of its motorcycles/ATV and marine divisions and to wind down and discontinue new-vehicle sales in the continental U.S., following a thorough review of its current position and future opportunities in the U.S. automotive market.

The automaker determined that the best path to achieve this realignment in an efficient and orderly manner was to restructure its operations under Chapter 11. The case was filed in the U.S. Bankruptcy Court, Central District of California in Santa Ana.

Soon after the bankruptcy announcement, Auto Remarketing gathered analysis of used values of Suzuki units and more commentary in a story published here.

Additional information regarding ASMC’s business realignment can be found at the company’s website www.suzuki.com or via an information hotline at (877) 465-4819.