Isuzu withdraws from Russian market

Japanese pickup truck manufacturer Isuzu has reportedly withdrawn from the Russian market, where it could not continue production following the attacks on Ukraine. According to the news of the official Kyodo agency based on market sources, pickup truck manufacturer Isuzu has made its final decision regarding the Russian market. Accordingly, Isuzu could not restart production, which it had stopped in March 2022 due to parts supply problems following Russia's attacks on Ukraine. The interruption in question cost the Japanese company an additional financial loss of 1.7 billion yen ($12 million) in the April 2022-March 2023 period covering the 2022 fiscal year. Isuzu announced that it would not continue production and withdraw from the Russian market due to factors such as production interruption, parts supply problems, and financial losses. It was reported that the Japanese company's shares were sold to Russian automaker Sollers, which took over Isuzu's production facility and approximately 200 employees. The pickup truck manufacturer, which started production in Russia in 2008, manufactured 3,700 vehicles at its facility in this country in 2021, according to the latest data on its website.