July 18, 2024

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Auto supplier Bosch says pandemic, chip shortage to weigh on industry growth this year

Editor’s take note: An previously model of this tale involved an incorrect determine for the company’s estimated sales advancement. The determine signifies estimated world wide economic advancement.

Vehicle supplier Robert Bosch stated Thursday the ongoing COVID-19 disaster and a semiconductor chip scarcity will weigh on world wide automotive generation advancement in 2021.

Close to 85 million motor vehicles will roll off assembly traces all around the planet this year, a lot more than the seventy eight million models made in 2020 but even now beneath the 92 million vehicles made in 2019, the Stuttgart-centered supplier stated.

Global automotive generation strike a large of 98 million models in 2017.

“We are pretty optimistic,” CEO Volkmar Denner stated, although he additional that “we even now have a long way to go to catch up”.

The supplier stated it estimated that the world wide economy would expand four per cent in 2021 following contracting all around four.5 per cent in 2020.

Bosch stated the “bottleneck” in the world wide semiconductor chip current market experienced “not still left Bosch unscathed.”

Normal Motors is the newest manufacturer strike by the chip scarcity. It stated Wednesday that it will lower generation next week.

Stefan Hartung, Bosch’s head of mobility alternatives, declined to apportion blame for the scarcity.

“We all battle together in shut cooperation to fix the difficulty.” he stated.

Bosch stated its issues for automotive generation in 2021 prolonged past the pandemic’s lingering impact.

“Political developments these types of as Brexit and continuing strategic competitors between the U.S. and China with its prospective for trade restrictions are also negatively impacting world wide economic development.”