Isuzu Motors Limited released its financial results for fiscal year 2025, which ended in March 2025. The company recorded total sales of 3.2 trillion yen (approximately 730 billion baht), representing a 5% decrease compared to the previous fiscal year. Net income stood at 130 billion yen (approximately 30 billion baht), down 24% year-on-year. Operating income was 220 billion yen (approximately 52 billion baht), a decline of 22% from the previous year.

For the light commercial vehicle (LCV) segment, unit sales in Thailand for fiscal year 2025 were 46,000 units, a significant decrease of 82,000 units from the previous year. This decline was primarily due to challenging market conditions, compounded by inventory reductions implemented by dealers and distributors. In export markets, unit sales totaled 184,000 units, a decrease of 45,000 units compared to the previous year, with the most notable decline occurring in the Oceania region. When combining sales in both domestic and export markets, total global sales of LCVs in fiscal year 2025 amounted to 230,000 units, representing a decrease of 127,000 units from the previous year.

Industry sales declined by 31% compared to the previous fiscal year, while the company’s market share fell to 37%. In addition, production volume saw a significant decrease both in the domestic market and in export markets.

Isuzu forecasts an increase in LCV sales for fiscal year 2026. Domestic sales in Thailand are projected to reach 72,000 units, driven by the completion of inventory adjustments by dealers and distributors, as well as a moderate market recovery anticipated in the second half of the fiscal year. Export market sales are also expected to increase, particularly in Africa and Oceania.

Regarding overall industry sales, Isuzu anticipates a gradual recovery in the second half of the fiscal year. However, unit sales for the January–December period are expected to remain at a low level of around 200,000 units, similar to calendar year 2024. Although the Thai government has announced various economic stimulus measures and the market potential remains strong, clear signs of recovery have yet to emerge. Isuzu aims to increase production volume in Thailand to 277,000 units, covering both domestic and export markets.