Toyota, Nissan, and others are shouldering more of the burden of soaring raw materials prices, or extending other help to hard-hit parts makers, executives say.
, and others are shouldering more of the burden of soaring raw materials prices, or extending other help to hard-hit parts makers, executives say.
“Inflation is happening and definitely we have to address it,” Nissan chief operating officer Ashwani Gupta told reporters recently. “We are discussing with our suppliers because in the end their sustainability is our sustainability.” Tokai Rika estimates its customers – again, mainly Toyota – will this year shoulder nearly two-thirds of an expected 7.9-billion-yen hit from higher prices of metals, resin, and other materials.
The semiconductor shortage and pandemic forced Toyota to make repeated cuts to its production plans, increasing the cost burden for parts makers. It has 400 primary suppliers and some 60,000 suppliers in total.
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