UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

    REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER
                      THE SECURITIES EXCHANGE ACT OF 1934

                         For the month of October, 2003

                          GRUPO IUSACELL, S.A. de C.V.
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                 (Translation of registrant's name into English)

                         Prol. Paseo de la Reforma 1236
                        Col. Santa Fe, Deleg. Cuajimalpa
                               05438, Mexico D.F.
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                     (Address of principal executive office)

      Indicate by check mark whether the registrant files or will fill annual
reports under cover of Form 20-F or Form 40-F: Form 20-F |X| Form 40-F |_|

      Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g-3-2(b) under the Securities and Exchange Act
of 1934. Yes |X| No |_|




Documents Furnished By the Registrant

1. Press Release of the Registrant dated October 30, 2003

                                   SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                    GRUPO IUSACELL, S.A. DE C.V.

Date: October 27, 2003              /s/ Jose Ignacio Morales Elcoro
                                    --------------------------------------------
                                        Name:  Jose Ignacio Morales Elcoro
                                        Title: Attorney in fact

                                    /s/ Jorge Narvaez Mazzini
                                    --------------------------------------------
                                        Name:  Jorge Narvaez Mazzini
                                        Title: Attorney in fact




[LOGO] IUSACELL
       Velora tu espacio

                                                               INVESTOR CONTACTS

                                                              Jose Luis Riera K.
                                                         Chief Financial Officer
                                                                  5255-5109-5927

                                                             Carlos J. Moctezuma
                                                      Head of Investor Relations
                                                                  5255-5109-5759
                                                carlos.moctezuma@iusacell.com.mx

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Iusacell Announcement
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Mexico City,  October 30, 2003 - Grupo  Iusacell,  S.A. de C.V. [BMV: CEL, NYSE:
CEL]  ("Iusacell" or the "Company")  announced today that its subsidiary,  Grupo
Iusacell Celular,  S.A. de C.V.  ("Iusacell  Celular") is discussing a temporary
Amendment and Waiver of certain provisions and defaults under its US$266 million
Amended and Restated Credit  Agreement,  dated as of March 29, 2001 (the "Credit
Agreement") with its lenders.

During the first half of 2003,  Iusacell Celular exceeded the permitted leverage
ratio of 2.50 under the Credit Agreement. On April 28, 2003 Iusacell Celular and
the  lenders  entered  into a  temporary  amendment  and  waiver  to the  Credit
Agreement  to increase the  permitted  leverage  ratio from 2.50 to 2.70.  After
various extensions, the amendment and waiver terminated, and the lenders are now
considering another amendment and waiver to the Credit Agreement.

If an additional amendment and waiver is not granted, an Event of Default (as
defined in the Credit Agreement) will occur as if no amendment and waiver had
ever been executed. Accordingly, the bank lenders under the Credit Agreement
would continue to have the right to declare the indebtedness under their loan
immediately due and payable.

**********************

About Iusacell

Grupo  Iusacell,  S.A. de C.V.  (Iusacell,  NYSE:  CEL;  BMV: CEL) is a wireless
cellular and PCS service  provider in seven of Mexico's nine regions,  including
Mexico City, Guadalajara, Monterrey, Tijuana, Acapulco, Puebla, Leon and Merida.
The Company's  service  regions  encompass a total of  approximately  92 million
POPs, representing approximately 90% of the country's total population.

Grupo Iusacell,  S.A. de C.V. press releases and all other written materials may
from time to time contain  statements about expected future events and financial
results that are  forward-looking  and subject to risks and  uncertainties.  For
those  statements,  the  Company  claims the  protection  of the safe harbor for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995.  Discussion of factors that may affect future  results is contained
in our filings with the Securities and Exchange Commission.