Isuzu and GM Establish Joint Venture of Commercial Vehicles in Colombia
Isuzu Motors Limited (President and Representative Director, Susumu Hosoi) and General Motors Corporation (GM) established a joint venture, "GM-Isuzu Camiones Andinos de Colombia, Ltda. (GMICA-Colombia)" in Colombia as part of the reinforcement of sales of Isuzu commercial vehicles in 3 Andean countries (Colombia, Venezuela, and Ecuador) in South America.
Isuzu has been selling commercial vehicles and pickup trucks in Colombia through a sales channel of GM Colmotores. The establishment of GMICA-Colombia will enable ISZ to introduce the knowhow of its commercial vehicle business to the joint company and support commercial vehicle business of GM Colmotores. Chevrolet badged Isuzu commercial vehicles sold until now by GM Colmotores will carry Isuzu badge as a sub brand in the Colombian market. Isuzu expects that the new badge and sub brand will further increase the appeal of Isuzu commercial vehicles in the market.
The new company will provide services for sales, marketing and after-sales of Isuzu commercial vehicles, and support dealerships of GM Colmotores.
ISZ and GM plan to establish a similar joint company in Venezuela and Ecuador respectively to jointly improve their sales of commercial vehicles in the Andean region.
With the establishment of GMICA-Colombia, Isuzu intends to increase sales volume and market share in the Andean region, and accelerate the process of strengthening and expanding commercial vehicle business overseas, a target in the new mid-term business plan which Isuzu started its implementation from April this year, beginning of the fiscal 2008.