• Most Popular
  • Most Shared

Isuzu may buy part of GM's mid-size truck ops-Nikkei

Wed Nov 5, 2008 3:38pm EST

Stocks

   

DETROIT, Nov 5 (Reuters) - Isuzu Motors Ltd (7202.T) may buy part of General Motors Corp's GM.N midsize truck business but has no intention of taking over the entire unit, the Nikkei newspaper quoted Isuzu President Susumu Hosoi as saying.

GM has decided to divest its money-losing midsize-truck business and has approached Isuzu, the financial daily said.

"There won't be a full acquisition," Hosoi was quoted as telling reporters, adding that Isuzu was willing to cooperate if GM maintained its involvement to a certain degree.

Isuzu may produce trucks and engines that GM would discontinue, and the two companies may cooperate in North American sales, using GM's dealership network, the Nikkei said. GM and Isuzu were not immediately available for comment.

(Reporting by Soyoung Kim)



More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

A worker walks on steel frames at a construction site in central Beijing January 27, 2010. REUTERS/Loic Hofstedt
Analysis:

China's boom may lead to bust

The housing market is becoming the investment of choice for the Chinese, which is making policymakers very nervous.  Full Article