Isuzu losses deepen

Isuzu Motors, the Japanese carmaker struggling to turn its business around under an alliance with GM, has reported a $1.2bn deficit for 2002 – the fourth year of substantial losses.

The 2002 result was more than three times 2001's losses with sales plunging 15.5 per cent.

Isuzu racked up a $656m charge restructuring its North American subsidiaries.