Top Bosch auto executive expects European market to remain flat until 2020

Automotive News Europe reported this week on an an interview it had with
Wolf-Henning Scheider who is in charge of Robert Bosch’s Automotive Division.
In the interview, he said that despite the tough market, he expects their business to achieve their modest targets within the next two years, but he also expects the European market to be flat until 2020.

He told Automotive News that he hopes we have made it through the worst of the slump in Europe. He said that he could see a slight pickup in the market, but that he don’t expect any major advances in the medium term. An that realistically, we have to assume stagnation in the European market until 2020.

He reminded the interviewers that they had exited their foundation brakes business and dissolved our [EV battery] joint venture in Korea, which puts pressure on revenue and earnings. Despite this and the European downturn, he will maintain Robert Bosch’s position as world’s largest supplier despite.

Scheider also told Automotive News that he does not expect the benefits of Bosch’s heavy investment in EV technology to be felt before 2020.

Herr Scheider talked with Automobilwoche Editor Guido Reinking and Reporter Matthias Krust. Automobilwoche is a sister publication of Automotive News Europe.