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TOKYO, Sep 13 (Reuters) Japanese truck maker Isuzu Motors Ltd. said on Wednesday it has set up a sales company in Germany with trading house Mitsubishi Corp. to enter the German market for pickups and light trucks.

It will target sales of 400 Elf series light trucks and 900 D-MAX pickups in Germany and Austria next year, raising the figure to 800 and 2,300 units respectively in 2010, Isuzu said in a statement.

Germany and Austria have a combined truck market of about 100,000 units a year, dominated by DaimlerChrysler AG and MAN AG , which together hold two-thirds of the market.

Isuzu is aiming to expand its overseas sales under a three-year business plan to March 2008, including in Europe where it operates two other sales companies with Mitsubishi.

Isuzu Sales Deutschland GmbH, capitalised at 3 million euros ($3.8 million), is held 20 percent by Isuzu and 80 percent by Mitsubishi.

REUTERS SBA VP1316