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Honda Reportedly Aims USD9.4B Cost Cuts, Seeks Sharp Price Cuts from Parts Suppliers
2026-09-02 15:56:13 Honda Motor (7267.JP) is targeting cost cuts of more than USD9 billion over the next four years, having instructed parts suppliers to make substantial price reductions, Reuters, citing internal documents and sources, reported. The company will also seek to source more parts from Chinese suppliers. Honda is striving to reverse the downturn in its automotive business. Losses related to its electric vehicle business are expected to eventually exceed USD12 billion, making it one of the worst loss-making global automakers in this segment. The company is shifting its focus toward hybrid vehicles, with its latest target being to save JPY1.5 trillion (approximately USD9.4 billion) in costs by 2030. A Honda spokesperson declined to comment on specific cost-saving targets or details of discussions with suppliers, only emphasizing that the group is cooperating with global suppliers, including through the use of standardized parts, to enhance competitiveness and reduce costs. ~ AASTOCKS Financial News Website: www.aastocks.com | |