Growth in the commercial vehicle sector is taking off again, according to Bosch chairman Bernd Bohr.
Speaking at the opening of the IAA Commercial Vehicles show in Hannover, Germany, he said: â€œThe upswing is also happening on the roads. More freight traffic, more commercial vehicles â€“ we see that reflected in our technology business at Bosch.â€
Bosch expects sales for commercial vehicle technology to reach â‚¬6.8 billion in 2010 â€“ which amounts to a quarter of its total business volume in automotive technology.
For 2011, the company is aiming for sales of â‚¬7.4 billion in this field.
â€œFor the long term, opportunities for growth look good,â€ said Bohr, adding that prospects were also good for the passenger car segment.
â€œIn fact, we expect sales from the Bosch Automotive Group to increase by some 25% this year, to more than â‚¬27 billion.â€
For the Bosch Group as a whole, he said he expects an increase of some 20% to â‚¬46 billion.