Published on July 17th, 2017 | by Daniel Sherman Fernandez0
Bosch Seeing Higher Auto Technology Demand
Robert Bosch expects its automotive division to increase revenue by 7% this year to about 47 billion euros, the company said here on Tuesday. That growth rate would exceed the 5.5% 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 calls 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%, while sales of video sensors should jump by 80%, 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% to 5% this year compared with 2016 as the outlook for conglomerate’s other divisions remains weak.