Toyota’s march to the top of the world’s sales lists continues and at the same time the Japanese mega-maker is looking to cut costs at every possible point. The savings will come from improved quality, reduced waste and human resources development in addition to their new “Value Innovation” (VI) plan.
Toyota’s previous cost-cutting plan, somewhat awkwardly labeled “Construction of Cost Competitiveness in the 21st Century” (CCC21), saved $9 billion over five years. In an interview with Toyota Motor Corp. President Katsuaki Watanabe, Reuters quoted the leader as saying that he expected savings to be at least 300 billion yen ($2.7 billion) per year, and that less savings would be “meaningless.”
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