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Procurement Outsourcing News
Posted: Tuesday, May 29, 2007, 10:35AM
Honda aims for large increase in China procurement levels
Japanese automotive giant Honda has said it plans to increase its levels of procurement in China by 20% by the end of 2008.
The company currently procures 70% of its car parts and components from China, and, according to the Nikkei business daily, hopes the move will help reduce costs ahead of the commencement of the production of the new model Accord next year.
The latest figure is an increase on the 80% procurement rate Honda had reportedly aimed to hit over the next 18 months.
Honda has recently seen a large increase in the numbers of vehicles sold in China. In April, the company sold 33,944 vehicles in the country, an increase of 27.4% from the equivalent period in 2006.
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