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Isuzu Eyes Global Market for Their Trucks
Isuzu, Japan’s largest manufacturer of light trucks will be facing a decrease in their domestic sales for this year. This is due to the fact that transport companies in Isuzu’s home turf just finished renewing their fleets to comply with emission rules mandated by the government and implemented in 2005. It is expected that domestic sales will dip by 28 per cent against last year’s numbers, which is equivalent to 74,000 units. This though is not a hindrance for the company to move forward. Instead, the company now focuses on growing and emerging markets for their vehicles all over the world.
The company set a goal to sell 664,000 vehicles this year, following a year that saw them sell 650,734 vehicles in 2006. Isuzu’s main target is the global market which they expect to sell 590,000 units, some 8 per cent higher than the previous year.
The company has set their sights on emerging market in the global community; countries like South Africa are just two of those markets that seem promising for the light truck manufacturer. The company has started its expansion globally by joining forces with OAO Severstal, Russia’s largest steel manufacturer to be the first Japanese company to manufacture and sell trucks in Russia. The company expects an increase of 10,000 vehicles per year for the next three years on top if their 500 initial sales in Russia. This is a part of the company’s effort to increase its European market sales by 34 per cent.
Another emerging market that Isuzu is eyeing is South Africa. In November of last year, the company has joined forces again with General Motors in a 50-50 venture in an effort to raise their sales in the said country by as much as sixty per cent. This is a number which is reachable due to the increased demand on light trucks in South Africa. The company also aims to increase their sales by 11 per cent in the Middle East and African markets.
The company is going to release a revamped version of their Isuzu Elf truck which was and still is a bestselling tuck in their home country. The Isuzu Elf will be the anchor of the company’s push toward expanding their market globally. With the popularity of the model and the name of the brand which is known for high performance trucks and the reliable Isuzu parts, the company certainly looks like it will achieve the goals it has set for them.
About the Author: Correy Putton is a 28-year old bachelor from Pittsburgh, PA who has been around cars for the better part of his life. He now works online and writes all about his passion: cars. He is also a certified mechanic.