PLYMOUTH, MI – Bosch North America President Mike Mansuetti forecasts subdued growth for the diversified global industrialist in 2019 after a record-setting year-ago, and he says the company is working to further tariff-proof itself as trade tensions heighten between the U.S. and China.
“We see Europe going down, China cooling down and the overall volume development of vehicles tapering off, so we’ll see a more subdued picture in 2019,” says Mansuetti, whose German parent group Bosch Group booked a record $92.7 billion in global sales last year across its various divisions.
Bosch North America contributed an all-time high $14.5 billion in revenue, up 6% over 2018 with its automotive business, or mobility solutions, accounting for $9.5 billion and 66% of its overall business.
“In North America we still see that we will continue to grow, maybe not as much,” he says. “But overall, we see a reflection of the global picture. We see a little cooling down here, as well.”
Sales were not the only element of growth at Bosch N.A. last year. On the automotive side, it expanded mobility solutions plants in Charleston and Anderson, SC, which make a variety of parts and sensors. It also is investing $120 million into a new plant in Celaya, Guanajuato, Mexico, to make electronic control units, or ECUs, to satisfy the booming connected-mobility market.
As new players enter the automotive business, including ride-hailers such as Uber, Bosch is adding their business to its roster of traditional OEM customers, Mansuetti says.