Toyota Advised By Steel Suppliers

Japanese carmaker Toyota is seeking the advice of steel suppliers such as Nippon Steel Corp and Sumitomo Metal Industries on how to cut its production costs, according to Japan's Jiji Press. By working with the steel producers, Toyota is aiming to lower its steel procurement costs, which contribute around 10% of a car's total production cost. The suppliers have given Toyota around 300 proposals for cutting costs, which include using the same steel products in a range of models and reviewing production processes with a view to reducing steel usage. Toyota will trial the proposals for between six and 12

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