Japan's Isuzu Motors has increased its stakeholding in joint venture partnership Isuzu Truck South Africa to 70 percent after buying an additional 20 percent interest from General Motors South Africa (GMSA), who helped form the JV in 2007, for an undisclosed amount.
Isuzu Truck South Africa's Chief Operating Officer Craig Uren described the move as the "logical next step" for the brand as it increasingly plays a leading role in the South African truck market.
"With the announcement of the local shareholding change comes the requirement from Isuzu for Isuzu Truck South Africa to take more responsibility for the Sub Saharan Africa territory, and we've got some specific objectives to achieve," Uren said. "We're going to aim to enhance the Isuzu sales volume, provide better customer satisfaction, enhance life cycle business and stabilise the business in South Africa by strengthening the connection between Japan and South Africa."
He stressed that General Motors remained an important partner and that the group was not phasing out its relationship with GMSA.
"We've asked GMSA to continuously be involved in Isuzu Truck South Africa as an amicable partner, as we will continue to use GMSA's infrastructure, resources for parts ordering and receiving, transportation of completed vehicles and vehicle assembly outsourcing," Uren said.
Isuzu Truck SA will focus on the Medium and Heavy Commercial Market and GMSA focus on the Light Commercial and Passenger Markets.
"GM has been Isuzu Trucks' important business partner, and we are not planning to take the business in a different direction," Uren said.
Image: © Getty
Copyright is owned by Africa Outlook and/or Outlook Publishing. All rights reserved.