Bosch Forecasts 10% Sales Growth In Mobility Divison For 2023
Available data tells us that Bosch remains the top automotive supplier in the entire world. According to Bosch's recent forecast, the company expects its sales in the mobility division to increase by 10% in 2023.
This was revealed at a car show in Munich and showed that the company remains positive despite the difficult macroeconomic environment. And when we consider the fact that slow global demand is also a factor that could hamper Bosch's sales, the recent forecast starts to look a little too optimistic.
According to the CEO of Bosch, the company is good at making software and thus is trying to utilize it to change the mobility future. They plan to utilize their technology to convert the dream of a powered vehicle into a reality. In fact, they are hopeful that such a vehicle will even get on the road very soon.
Bosch's 2022 Sales Growth Was 12.1%
So far, one of the biggest divisions of Bosch is the mobility sector which involves the manufacture of self-driving car components and complex safety systems. For the year 2023, the company expects its sales to grow by 10% once the exchange rate difference is accounted for!
Last year (2022), Bosch's sales increased by 12.1%, which was around $56.7 billion or 52.6 bn euros. Overall, the sales from this sector alone accounted for almost 60% of the company's revenue.
In 2023, the Bosch's sales growth forecast for all the sectors is between 6% to 9%. Given the last year's solid performance, there's a good chance that the company might manage to pull off its sales targets.
At the time of this news, $1 USD is equal to 0.9271 euros which is really helpful information to note, considering that the Bosch sales target is based on this FX rate differential.
If we look at the global demand, there's no doubt that things are not good as they were in the past. But despite the challenging times, Bosch remains helpful in achieving a positive sales growth target.