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Toyota has asked its suppliers to cut prices of some parts by 30-40 percent


Bruce Nunnally

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TOKYO (Reuters) -- Toyota Motor Corp. plans to cut auto parts procurement costs by around 30 percent over three years to help it regain profitability, media reports said today.

Toyota has asked its suppliers to cut prices of some parts by 30-40 percent for cars that will hit the market by 2013, the Asahi daily said. The Nikkei business daily also said Toyota plans to switch to less expensive materials and parts.

Read more: http://www.autonews.com/apps/pbcs.dll/arti.../312229982/1117

Bruce

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