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Honda Targets 9 Billion in Cost Cuts to Rival China

Honda has instructed suppliers to significantly reduce prices as part of a nine billion dollar cost-cutting plan. The automaker aims to counter intense pressure from Chinese electric vehicle competitors and fix its struggling car business.

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FILE PHOTO: Honda 0 Saloon and Honda 0 SUV electric concept vehicles are displayed during CES 2025, an annual consumer electronics trade show, in Las Vegas, Nevada, United States, January 7, 2025. REUTERS/Steve Marcus/File Photo

HONDA MOTOR CO LTD plans to cut $9.4B in costs by 2030, instructing suppliers to slash prices by 30% to counter rising competition from China.
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