World may have hit peak car output, says auto-parts supplier Bosch
Share:
STUTTGART, Germany (Reuters) - Global automotive production may have peaked, auto supplier Robert Bosch [ROBG.UL] said on Wednesday, announcing job cuts and a review of its business to cope with a 44% drop in full-year operating profit and a downturn in demand for cars.Global automotive production is expected to fall for the third consecutive year, by 2.6% to 89 million vehicles in 2020, following a drop in demand in China, Europe and the United States, the Stuttgart-based car parts supplier..