German engineering and technology firm Bosch says it expects global automotive production to decline for a third consecutive year in 2020, with the multinational company forecasting a further decrease in manufacturing processes.
According to Bosch GmbH, 2019 automobile production figures will decrease by around 2,6 % to 89 million vehicles in 2020, nearly 10 million units less than what was produced in 2017.
Volkmar Denner, CEO of the Gerlinger-based company, says Bosch is expecting this decline to remain constant, without “any increase in global automotive production before 2025”.
There is however, positive news, Denner says. “For the foreseeable future, the car will remain the number one means of transport. It has excellent prospects of becoming an even safer, more convenient, and eco-friendly means of transport.”
Original article from Car