06/03/2021

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

2 min read

Editor’s notice: An previously version of this tale included an incorrect determine for the company’s estimated sales progress. The determine signifies estimated world-wide financial progress.

Car supplier Robert Bosch claimed Thursday the ongoing COVID-19 crisis and a semiconductor chip shortage will weigh on world-wide automotive manufacturing progress in 2021.

About eighty five million autos will roll off assembly traces around the entire world this year, far more than the seventy eight million units manufactured in 2020 but even now beneath the ninety two million autos manufactured in 2019, the Stuttgart-centered supplier claimed.

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

“We are rather beneficial,” CEO Volkmar Denner claimed, though he included that “we even now have a extensive way to go to capture up”.

The supplier claimed it estimated that the world-wide economic system would expand four p.c in 2021 after contracting around four.5 p.c in 2020.

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

Standard Motors is the latest producer hit by the chip shortage. It claimed Wednesday that it will minimize manufacturing upcoming week.

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

“We all fight alongside one another in close cooperation to address the difficulty.” he claimed.

Bosch claimed its concerns for automotive manufacturing in 2021 extended beyond the pandemic’s lingering affect.

“Political developments these as Brexit and continuing strategic opposition between the U.S. and China with its likely for trade limits are also negatively impacting world-wide financial improvement.”
 

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