Plex
Zorce Jedi Master
Joined: 01 May 2005
Posts: 9039
Location: T&T
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 Posted: Thu Dec 13, 2007 9:34 am Post subject: Toyota to save $2.7 billion annually |
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Toyota has announced that it expects to save $2.7 billion annually by accelerating its cost-cutting efforts. Toyota has been working on a new cost saving strategy � called VI for Value Innovation � since 2005. The plan calls for multiple car components to be lumped into modules or systems. Volkswagen recently announced a similar plan for its vehicles.
"We would expect to exceed what we've done under the previous plan," Toyota president Katsuaki Watanabe told Reuters.
Toyota's previous plan � Construction of Cost Competitiveness in the 21st Century or CCC21 for short � cut the price of individual parts, saving the company $9 billion over the past five years. Toyota hasn't released all of the details of its VI plan, but says its impact will be even faster and bigger than the CCC21 plan.
The VI plan will be incorporated into every new Toyota model beginning next year, which should help the Japanese automaker to achieve its goal of a 10% operating profit margin.
Toyota plans to sell 10.4 million vehicles by 2009.
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