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Bosch expects sales in core mobility division to grow 10% in 2023
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FRANKFURT (Reuters) – Bosch, the world’s top automotive supplier, expects sales at its mobility
FRANKFURT (Reuters) – Bosch, the world’s top automotive supplier, expects sales at its mobility business division to grow by 10% this year, the group said at the IAA Munich car show, adding the group’s prospects remained positive despite a challenging environment.
“Bosch knows its way around software and is using it to shape the future of mobility. Our technology will make the software-defined vehicle a reality and help get it onto the road,” Bosch CEO Stefan Hartung said.
In the mobility sector – the group’s biggest division, making sophisticated safety systems as well as autonomous car components – sales are expected to grow by a “solid 10% in 2023” after adjusting for exchange-rate effects.
In 2022, the unit’s exchange rate-adjusted sales grew 12.1% to 52.6 billion euros ($56.7 billion), accounting for 60% of Bosch’s total revenues.
Bosch expects overall sales to grow by 6%-9% in 2023.
($1 = 0.9271 euros)
(Reporting by Ilona Wissenbach; Writing by Christoph Steitz; Editing by Louise Heavens)
A software-defined vehicle is a car that relies heavily on software for its operation, enabling features like autonomous driving, advanced safety systems, and connectivity.
Market share is the percentage of an industry's sales that a particular company controls. It is a key indicator of a company's competitiveness in the market.
Sales growth refers to the increase in sales revenue over a specific period, often expressed as a percentage. It indicates a company's ability to expand its market presence.
Exchange-rate effects refer to the impact of currency fluctuations on the value of sales and profits when converting foreign revenues back to the company's home currency.
A mobility division within a company focuses on products and services related to transportation, including automotive technology, safety systems, and mobility solutions.
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