Diesel engine and truckmaker Isuzu Motors plunged to a group net loss of JPY16.59bn in its first fiscal 2009/10 quarter after booking a JPY17.69bn this time last year. It blamed a sharp fall in both domestic and overseas vehicle sales.
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Isuzu also posted an operating loss of JPY14.6bn versus JPY20.26bn profit in Q1 2008/9, as sales fell 55% to JPY187.37bn.
Vehicle sales in Japan fell 51.1% to 7,081 units in the three month period while those overseas dropped 64.1% to 36,847 units, led by plunges in Asia and the Middle East, Isuzu told Kyodo News.
Isuzu has forecast a full year net loss of JPY20bn and an operating loss of JPY18bn on sales down 24% to 1.08 trillion yen.
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