REUTERS AUTOS SUMMIT

Bosch sees 11 million U.S. auto sales in 2010

DETROIT (Reuters) -- The head of the American unit of German autos parts supplier Robert Bosch GmbH said he expects U.S. light vehicle sales to improve to 11 million units in 2010, indicative of a steady but slow recovery from a bottom reached earlier this year.

Overall auto sales will end 2009 near 10 million units, which would be a decline from 13.2 million units in 2008 and 16.1 million in 2007.

The last truly good year for U.S. sales for Bosch was 2007, when they were at levels that will not be seen until 2012, Peter Marks told the Reuters Autos Summit in Detroit.

For Bosch, 2010 will show increased sales, "but it will take us until 2012, Bosch as a whole, to get the sales again what we had in 2007. That is quite a long road," Marks said.

"The recession has impacted Bosch significantly," Marks said. "For 2009, we expect worldwide sales to fall by 15 percent, to $51 billion. For the automotive (unit at Bosch), the decline is even worse -- by 20 percent worldwide and by 21 percent in North America."

For the rest of 2009, he said, "The fourth quarter will be better than the fourth quarter of the previous year but it will be still 20 percent below what we experienced in a good year, which is our reference, 2007."

Bosch will spend about $4.2 billion worldwide on research and development, which Marks said will keep it competitive in the emerging alternative vehicle market.

"For the auto industry, all roads ultimately lead to the full electrification of the vehicle," Marks said, adding that it will take two decades for alternative vehicles to overtake the internal combustion engine.

He said Bosch, which makes a wide array of products in addition to auto supplies, is positioned for the coming changes in powering autos because it is established in Europe where small cars make up a larger share than in North America.

Bosch over the next three years expects to increase U.S. sales at an annual rate of 7 percent to 8 percent, "which is a pretty good growth in a mature market," Marks said.

Bosch ranks No. 1 on the Automotive News list of the top 100 global suppliers, with estimated sales to automakers of $33.9 billion in 2008.

Contact Automotive News


COMMENTS
Readers are solely responsible for the content of the comments they post here. Comments are subject to the site's terms and conditions of use and do not necessarily reflect the opinion or approval of Automotive News. Readers whose comments violate the terms of use may have their comments removed or all of their content blocked from viewing by other users without notification.



image
ENLARGE
Bosch exec Marks expects the company's global auto sales to be down 20% in 2009.


 

 

Unlimited access
to our website
news and data
Plus you'll get the
print edition of
Automotive News
delivered to your
home or office
every week
 
By taking advantage of this online offer, you'll get an entire year's subscription for only $155 - that's less than 50¢ a day!
*Name:
*Email:
*Company:
*Address:
*City: *State: 
*ZIP/Postal:
*Country: