Toyota pushes some parts suppliers to lower prices

Automaker will also offer support to companies grappling with inflation

20220623N Toyota plant

A Toyota assembly plant in Aichi Prefecture, Japan. The automaker expects to increase production in the third quarter. (Photo courtesy of Toyota)

KEI MIYATA, Nikkei staff writer

NAGOYA -- Toyota Motor is asking certain parts companies to cut prices for the July-September quarter, returning to its customary requests now that it expects output to recover soon.

The Japanese automaker works with suppliers to curb costs and asks them to share a portion of the resulting savings in the form of price cuts -- typically about 1% per year, depending on progress in rationalization and other steps.

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