Truck maker Isuzu cuts forecast on Thai slowdown

Shares drop 5% as net profit outlook disappoints

20241111N Isuzu

Isuzu's pickup truck sales in Thailand have been hit hard by rising interest rates and tougher loan screenings. (Photo by Nikkei)

HIROTAKE KITAGAWA and YUMI OKURA, Nikkei staff writers

TOKYO -- Japan's Isuzu Motors on Monday lowered its annual net profit forecast by 25 billion yen to 135 billion yen ($877 million) as the outlook worsened for pickup truck sales in Thailand, a vital market.

The automaker now expects group net profit to fall 23% in the fiscal year to March 2025, compared with an earlier forecast of a 9% decline.

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