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Toyota shaves $1.2 billion off its production costs

Toyota announced that it has managed to cut $1.2 billion in production costs around the globe for the fiscal year ending March 31, 2006. The automaker claims the savings resulted in part from a new method used in building components like motors and braking systems. As these techniques work their way through all future Toyota models, the automker believes more savings will follow.

[Source: The Wall Street Journal via Auto Industry UK]

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