Honda Wants To Cut $9 Billion In Costs - Jalopnik

Honda is targeting cost cuts of more than $9 billion over the next four years as part of a broader industry push to compete with cheaper Chinese rivals, according to internal documents cited by Reuters. The automaker has told suppliers to drastically reduce their prices, with Honda also aiming for savings of 1.5 trillion yen ($9.4 billion) by 2030. Managers briefed suppliers on the plan and issued company-specific targets. Honda plans to cut costs by 30% across three categories: pressed and forged components, electrical parts, and parts related to software-defined vehicles (SDVs). It also said it wants to source more components from Chinese suppliers.