Bosch expects sales in core mobility division to grow 10% in 2023

IAA MOBILITY 2021 show in Munich

FRANKFURT (Reuters) - Bosch, the world's top automotive supplier, expects sales at its mobility business division to grow by 10% this year, the group said at the IAA Munich car show, adding the group's prospects remained positive despite a challenging environment.

"Bosch knows its way around software and is using it to shape the future of mobility. Our technology will make the software-defined vehicle a reality and help get it onto the road," Bosch CEO Stefan Hartung said.

In the mobility sector - the group's biggest division, making sophisticated safety systems as well as autonomous car components - sales are expected to grow by a "solid 10% in 2023" after adjusting for exchange-rate effects.

In 2022, the unit's exchange rate-adjusted sales grew 12.1% to 52.6 billion euros ($56.7 billion), accounting for 60% of Bosch's total revenues.

Bosch expects overall sales to grow by 6%-9% in 2023.

($1 = 0.9271 euros)

(Reporting by Ilona Wissenbach; Writing by Christoph Steitz; Editing by Louise Heavens)