Retail in Asia

In Sectors

Toyota presses parts makers for 30 percent cut in costs

Toyota Motor Corp. has notified affiliated parts manufacturers that it plans to cut procurement costs for auto parts by a combined 30 percent by 2013, sources said last week.

The move, aimed at marketing new car models in Japan and abroad at lower prices, would benefit people intending to buy new vehicles but is expected to weigh on the operations of Toyota’s subcontractors and sub-subcontractors.