Bosch Predicts Auto Production Decrease of 20 Percent
April 29, 2020
Bosch expects global automotive production to drop off rather significantly for the remainder of 2020, due in no small part to the COVID-19 pandemic.
April 29, 2020—Bosch expects global car production to decrease by 20 percent this year, per a report by Reuters.
While the company is reportedly bracing itself for a global recession, it has made a forecast for the Bosch Group as a whole. To cut costs, Bosch has pushed out time frames for making investments, reduced working hours for half of its staff in Germany and imposed salary reductions.
Additionally, Bosch's managers and executives are taking a 20 percent pay cut in April and May.
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