Toyota will consider supporting business partners in the second half of the year without asking for price cuts for procured parts

Toyota Motor has decided to forgo the “price revision” in the second half of this year, which demands a reduction in the prices of parts to be procured, because the burden on business partners is increasing due to soaring raw material prices.

As the prices of energy such as electricity and gas continue to rise, they also consider supporting our business partners.

Toyota usually carries out “price revisions” twice a year to request reductions when procuring parts from the manufacturers of their business partners.

However, at Toyota, considering that the burden on manufacturers of business partners is increasing due to soaring raw material prices and production cuts due to the spread of new coronavirus, this “price revision” will be made for the second half of this year from October.

In addition, the prices of energy such as electricity and gas continue to rise, and customers are calling for support, so they are considering effective and realistic support measures.

Toyota says, “when various price hikes become so difficult, support is inevitable. We would like to carefully grasp the actual situation in consultation with our business partners and squeeze out specific support content.”

Source: https://www3.nhk.or.jp/news/html/20220726/k10013735811000.html