Isuzu Motor, Japan's leading medium and heavy commercial vehicle producer, is still struggling to return to profit after three straight years of losses and an overall dismal decade in the 1990s which saw it exiting the passenger car sector. Despite intensive efforts recently to re-invent itself, with the launch of the 'V-Plan' restructuring programme in March 2001, the company continues to haemorrhage capital. Tony Pugliese assesses the company's prospects.