Bosch predicts 7% sales gain for auto division
BOXBERG, Germany -- Robert Bosch expects its automotive division to increase revenue by 7 percent this year to about 47 billion euros, the company said here on Tuesday. That growth rate would exceed the 5.5 percent increase achieved by the world's largest supplier last year and would be nearly three times faster than the estimated rise for global passenger-car production.
Bosch's auto division, which is called Mobility Solutions, is bullish because it expects to benefit from major automotive trends such as move toward autonomous driving and electromobility.
Revenue from radar sensors, for example, is expected to rise 60 percent, while sales of video sensors should jump by 80 percent, the company said.
"As a systems supplier, we are growing faster than the market and remain a strong and above all innovative partner for the automobile industry," said Rolf Bulander, head of the division, during a press event held at company's proving ground, which is about 100km north of its headquarters near Stuttgart.
The forecast rate at which the auto division's revenue will increase this year also is expected to top that of the overall group, which only expects a rise of 3 percent to 5 percent this year compared with 2016 as the outlook for conglomerate's other divisions remains weak.
Bosch's auto division boosted 2016 sales 5.5 percent to 43.9 billion euros. It ranks No. 1 on the Automotive News Europe list of the top 100 global suppliers. Europe accounted for 46 percent of that total.