Mitsubish becomes top shareholder of Isuzu
Isuzu Motors announced today that Mitsubishi Corp. has become its top shareholder after increasing its share of the automaker from 3.5 percent to 15.65 percent. Mitsubishi Corp, the huge conglomerate that also owns 13 percent of Mitsubishi Motors Corp, first scooped up a share in Isuzu when General Motors dropped back its stake in the company back in April, and this news came about after Mitsubishi decided to convert all the preferred share that it purchased back in 2005 into common stock. Mitsubishi is clearly looking to strengthen its ties with Isuzu and benefit from the automaker's truck business.
Mitsubishi is a huge company, and it's no suprise that it is looking to strengthen its truck portfolio. A major factor in Mitsubishi's success last year was the strong sales of its trucks in Thailand, believe it or not. It will be interesting to see how much Mitsubishi integrates Isuzu into its current product offerings, as in some markets the two are direct competitors. It will be also interesting to see what becomes of Mitsubishi's relationship with DaimlerChrysler, as its current midsize truck offering, the Raider, is based on the Dodge Dakota. And what of GM's midsize trucks, the Chevy Colorado and GMC Canyon, which share their identity with Isuzu versions that have different grilles and bigger warranties? Seems as old relationships unravel, new ones are forming quickly.
[Source: AutomotiveNews - sub. required]
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