Bosch sees 2014 sales growth at top end of range
BERLIN (Reuters) -- Robert Bosch, the parent company of the world's largest auto parts supplier, expects full-year sales to be at the top end of its target range, CEO Volkmar Denner told a newspaper.
"Earlier this year we expected growth of between 3 and 5 percent. We now expect to finish at the top end of the range," Volkmar Denner was quoted as saying by German daily Handelsblatt in an article to be published on Friday.
That would mean Bosch would report revenue of more than 48 billion euros ($65.5 billion) this year, compared with 46 billion euros last year.
Denner also told the paper the company was investing about 500 million euros a year in new projects to complement its existing operations.
After a failed foray into solar technology, Bosch wants to tap into a growing market for internet-enabled devices and systems to allow autonomous driving.
Bosch's automotive unit ranks No. 1 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $40.2 billion in 2013.Contact Automotive News