Industry News
Toyota cuts production costs by $1.2 billion
12th April 2006
Toyota reportedly estimates it achieved a $1.2bn reduction in its global production costs in the financial year ended 31 March, thanks in particular to a new method of developing major component sets such as motors and braking systems. Further cost reductions are expected this year and thereafter, as the same methodology is applied to future model development.
(Wall Street Journal, 10 April)
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