Toyota plans another deep cut in purchasing

By James B. Treece, Automotive News Europe

TOKYO — Toyota’s next round of cost cutting will focus on systems and modules rather than individual components.

The Japanese automaker plans to launch a savings program it calls “Value Innovation” or VI.

“We have no target today” for overall cost savings under VI, said Katsuaki Watanabe, who will become Toyota’s president in June.

In some areas, the savings will be in the 15 percent to 20 percent range, he said.

Engineers currently are examining a wide range of systems for savings and…

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