February 22, 2024

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The Ultimate Driving Machines

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

Editor’s notice: An before edition of this tale provided an incorrect figure for the company’s estimated gross sales advancement. The figure signifies estimated world-wide financial advancement.

Automobile supplier Robert Bosch claimed Thursday the ongoing COVID-19 crisis and a semiconductor chip lack will weigh on world-wide automotive creation advancement in 2021.

About 85 million vehicles will roll off assembly strains about the world this yr, extra than the seventy eight million units created in 2020 but still under the 92 million cars created in 2019, the Stuttgart-centered supplier claimed.

World wide automotive creation hit a large of ninety eight million units in 2017.

“We are pretty good,” CEO Volkmar Denner claimed, whilst he additional that “we still have a lengthy way to go to capture up”.

The supplier claimed it estimated that the world-wide overall economy would develop 4 % in 2021 immediately after contracting about 4.5 % in 2020.

Bosch claimed the “bottleneck” in the world-wide semiconductor chip industry had “not still left Bosch unscathed.”

Typical Motors is the most current manufacturer hit by the chip lack. It claimed Wednesday that it will reduce creation future week.

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

“We all battle jointly in shut cooperation to remedy the issue.” he claimed.

Bosch claimed its problems for automotive creation in 2021 extended past the pandemic’s lingering impact.

“Political developments these types of as Brexit and continuing strategic level of competition between the U.S. and China with its likely for trade limitations are also negatively impacting world-wide financial enhancement.”