After US, Suzuki exits Chinese market as well; transfers stake to partner

The retreat from China after a quarter of a century follows an exit from the US car market in 2012 after three decades there

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 per cent 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.

The retreat from China after a quarter of a century follows an exit from the US car market in 2012 after