The problem Suzuki is facing is similar to the rest of the industry, however the company's biggest market, India, where it commands around half the market has also declined sharply.
Financial advisors have warned car companies to slow capital investment plans given the decrease in demand worldwide.
The news is unfortunate as the Kizashi was one car we had all been waiting for here at CarAdvice. You can read more about the car here. The 3.6-litre sedan was meant to act as a step up from the company's small cars, capturing existing buyers looking to upgrade.
Suzuki CEO Osamu Suzuki says there is a reasonable chance of the entire project's cancellation (for the time being). Mr Suzuki said it makes little sense to launch a car into a shrinking segment of the market.