Pandemic, chip shortage will weigh on carmakers in 2021 - Bosch
Around 85 million vehicles will roll off assembly lines around the world this year, a jump from the 78 million units produced in 2020, but still below the 92 million cars produced in 2019
Global automotive production will return to growth in 2021 after taking a hit during the coronavirus pandemic, auto supplier Robert Bosch said on Thursday, but the ongoing Covid-19 crisis and a semiconductor chip shortage will weigh on carmakers during 2021.
Around 85 million vehicles will roll off assembly lines around the world this year, a jump from the 78 million units produced in 2020, but still below the 92 million cars produced in 2019, the Stuttgart-based car parts supplier said.
Global automotive production hit a high of 98 million units in 2017.
Keep updated, follow The Business Standard's Google news channel
"We are quite positive," Chief Executive Volkmar Denner said, adding that "we still have a long way to go to catch up."
The supplier said it estimated its sales would grow 4% in 2021 after a drop of more than 6% in 2020.
