© Reuters. Bosch logo is seen on a bike during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay/File Photo
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 (NYSE:) 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)
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