Honda Motor Co., Japan’s second- largest carmaker, plans to buy fewer parts in developed countries and procure more of them in emerging markets such as China, India and Brazil to cut costs.
Honda will reduce the local procurement rate for cars made in developed markets to as low as 60 percent from more than 90 percent, while raising it to as much as 90 percent from 60 percent in emerging markets, spokeswoman Akemi Ando said by phone today. The company doesn’t have a time frame for the goal, she said.
The Nikkan Jidosha newspaper reported the news earlier today.
