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Bosch expects sales in core mobility division to grow 10% in 2023

by Uma
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2023 09 04T064051Z 1 LYNXMPEJ8304C RTROPTP 4 AUTOSHOW MUNICH

Bosch expects sales in core mobility division to grow 10% in 2023

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)