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Pak Suzuki announced that the new Suzuki Swift will hit the local market after 11 years, after the company decided to discontinue the old model in August 2021.
The current model is about 11-year-old and reports suggest that in August this year it will finally be discontinued and would be replaced by its newer version.
In the second quarter of the year, the company may introduce the new Swift and the car would be available for sale by the end of this year.
Osamu told reporters on Wednesday he decided to retire after the company welcomed its 100th anniversary last year and the approval of its new management plan.
"I will neither run away nor hide," the patriarch said, who has repeatedly declared in the past he will be a "lifelong non-retiree".
Pak Suzuki recently reported that it has been struggling with the production and delivery of its cars due to post-pandemic related interruptions and delays in the global supply chain.