CBT News’ Post

German auto supplier Bosch has announced plans to cut 5,500 jobs globally, with a significant portion of these cuts occurring in Germany. The decision is driven by weak demand for electric vehicles (EVs) and increased competition from cheaper Chinese alternatives. The company cited overcapacity in the auto industry and slower-than-expected market growth for future technologies as key factors. The job cuts will primarily affect the divisions working on advanced driver assistance and automated driving technologies. Bosch aims to navigate these challenges by reducing costs and adapting to the changing market environment. . . . . . . . . #Bosch #JobCuts #EVs #AutoIndustry #Germany

Germany’s technology and services company Bosch said Friday it planned to reduce its automotive division workforce by as many as 5,500 jobs in the next several years in another sign of the headwinds hitting the German and global auto industries. https://lnkd.in/g2JK5K5Q

Automotive News recognized Bosch in its annual Top Suppliers issue, and again Bosch is the number one automotive supplier in the world. Bosch has also moved up to fourth in North America. https://lnkd.in/gfv8z3T2 (subscription required). #mobility #autosupplier #automotive #automotivesupplier #award Automotive News

Bosch, Germany's leading technology and services company, has announced that it plans to reduce its automotive division workforce by up to 5,500 jobs over the coming years.

German auto supplier Bosch plans to cut 5,500 jobs in its automotive division over the coming years, reflecting challenges in the German and global auto industries. The company cites stagnating global car sales, excessive factory capacity, and slower-than-anticipated adoption of electric vehicles (EVs) as key factors. The cuts, expected to conclude by 2032, will primarily impact Germany, with 3,500 jobs to be eliminated by 2027. These reductions will affect roles related to advanced driver assistance systems, automated driving technologies, and centralized vehicle software. Specific facilities, such as a plant in Hildesheim, will see significant downsizing, including 600 job losses by 2026. Bosch’s announcement follows similar moves by other automakers. Ford plans to cut 4,000 jobs in Europe, while Volkswagen faces labor unrest over potential factory closures. The auto industry faces declining sales in Europe as inflation dampens consumer spending, while EV sales underperform expectations amid stiff competition from Chinese brands. In Germany, the government’s abrupt end to EV purchase incentives last year caused a 27% drop in EV sales in 2024. Bosch, headquartered in Gerlingen near Stuttgart, employs 230,000 people in its mobility division out of a global workforce of 429,000. It emphasizes that the job reductions remain in the planning stage and will be carried out responsibly in consultation with employee representatives. Beyond automotive technologies, Bosch also manufactures industrial equipment, software, and consumer products like power tools. #germany #bosch #carindustry #vehicleindustry #autoindustry #vehicle #autocompany #automakers #ford #thesocialtalks

"𝐁𝐮𝐢𝐥𝐭 𝐭𝐨 𝐄𝐧𝐝𝐮𝐫𝐞, 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐭𝐨 𝐏𝐞𝐫𝐟𝐨𝐫𝐦."-IndustryARC™ Automotive Chassis Market size is estimated to reach $115.4 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030. 👉 ➡️ 𝑫𝒐𝒘𝒏𝒍𝒐𝒂𝒅 𝑺𝒂𝒎𝒑𝒍𝒆 𝑹𝒆𝒑𝒐𝒓𝒕: @ https://lnkd.in/gcSKaQaP 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐤𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 ▪ Increased demand for electric vehicles (EVs) in the US #automotive industry is partly driven by government incentives and subsidies to promote clean #energy adoption. Federal tax credits, state rebates, and other incentives encourage #consumers to purchase EVs, reducing the overall cost of ownership and making #electric #vehicles more appealing in the market. ▪ Growing #environmental awareness and concerns about climate change prompt consumers to seek alternative #transportation solutions with lower carbon footprints. EVs are perceived as environmentally friendly options due to their zero tailpipe emissions, contributing to air quality improvement and reducing greenhouse gas emissions, thus driving demand for electric vehicles in the US automotive industry. ▪ Automotive Chassis is primarily driven by increasing environmental concerns. Automakers are introducing #hybrid powertrains across various vehicle segments to improve #fuel efficiency, reduce emissions, and meet regulatory requirements. 👉 𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨: @ https://lnkd.in/g8VfDi7b The automotive industry faces the challenge of high R&D costs associated with the development of advanced technologies and innovative solutions. Automakers invest significant resources in R&D activities to stay competitive and meet evolving consumer demands, driving up overall production costs and posing financial challenges for industry players. Rapid technological advancements in areas such as electrification, autonomous driving, and connectivity increase the complexity of integrating new technologies into vehicles ✅𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀: ZF Group | Magna International | DENSO | Continental | Delphi Technologies | Hyundai MOBIS | Toyota Boshoku America | Bendix Commercial Vehicle Systems LLC | BorgWarner | Faurecia | JTEKT European Operations | Lear Corporation | Johnson Controls | NTN Bearing Corporation | Schaeffler | Tenneco | Valeo | Pirelli | CIE Automotive | Dana Incorporated | Adient | KYB Corporation | Renco |

"𝐁𝐮𝐢𝐥𝐭 𝐭𝐨 𝐄𝐧𝐝𝐮𝐫𝐞, 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐞𝐝 𝐭𝐨 𝐏𝐞𝐫𝐟𝐨𝐫𝐦."-IndustryARC™ Automotive Chassis Market size is estimated to reach $115.4 billion by 2030, growing at a CAGR of 5.5% during the forecast period 2024-2030. 👉 ➡️ 𝑫𝒐𝒘𝒏𝒍𝒐𝒂𝒅 𝑺𝒂𝒎𝒑𝒍𝒆 𝑹𝒆𝒑𝒐𝒓𝒕: @ https://lnkd.in/gvrF3qPX 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐤𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 ▪ Increased demand for electric vehicles (EVs) in the US  #automotive industry is partly driven by government incentives and subsidies to promote clean  #energy adoption. Federal tax credits, state rebates, and other incentives encourage  #consumers to purchase EVs, reducing the overall cost of ownership and making  #electric  #vehicles more appealing in the market. ▪ Growing  #environmental awareness and concerns about climate change prompt consumers to seek alternative  #transportation solutions with lower carbon footprints. EVs are perceived as environmentally friendly options due to their zero tailpipe emissions, contributing to air quality improvement and reducing greenhouse gas emissions, thus driving demand for electric vehicles in the US automotive industry. ▪ Automotive Chassis is primarily driven by increasing environmental concerns. Automakers are introducing  #hybrid powertrains across various vehicle segments to improve  #fuel efficiency, reduce emissions, and meet regulatory requirements. 👉 𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨: @ https://lnkd.in/gDxmiPVA The automotive industry faces the challenge of high R&D costs associated with the development of advanced technologies and innovative solutions. Automakers invest significant resources in R&D activities to stay competitive and meet evolving consumer demands, driving up overall production costs and posing financial challenges for industry players. Rapid technological advancements in areas such as electrification, autonomous driving, and connectivity increase the complexity of integrating new technologies into vehicles ✅𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀: ZF Group | Magna International | DENSO | Continental | Delphi Technologies | Hyundai MOBIS | Toyota Boshoku America | Bendix Commercial Vehicle Systems LLC | BorgWarner | Faurecia | JTEKT European Operations | Lear Corporation | Johnson Controls | NTN Bearing Corporation | Schaeffler | Tenneco | Valeo | Pirelli | CIE Automotive | Dana Incorporated | Adient | KYB Corporation | Renco |

This post highlights the challenges faced by German auto industry in front of Chinese competitors. Bosch, despite experiencing a decent growth in 2022-2023, the company's regional performance was inconsistent. With the Asia Pacific region being the largest auto market, Bosch's mere 0.6% revenue growth here suggests it underperformed here, impacting its overall revenue growth. While Fitch's recent rating indicates Bosch's capability to fulfill financial obligations, this latest development exposes industry uncertainties. Let's hope all stakeholders navigate this period of turbulence with resilience and emerge stronger #automotiveindustry https://lnkd.in/g26jyTHh

Second biggest automotive parts supplier in Germany and third in World, ZF Friedrichshafen, is implementing significant changes in response to financial pressures and the transition to electric vehicles (EVs). The company plans to cut up to 12,000 jobs by 2030, focusing primarily on its German operations. This decision comes as ZF grapples with rising interest rates and high upfront costs associated with the shift to EVs, coupled with slower-than-expected demand. The company reported a net debt of €11.5 billion as of mid-2023, prompting immediate actions, including the reduction of 800 jobs last year. The broader German automotive industry is experiencing similar challenges. Major suppliers like Bosch and Continental are also announcing job cuts due to inflation, increased raw material costs, and the transition to EVs which require less labor compared to internal combustion engine vehicles. It’s a pivotal moment for the industry, reflecting the urgent need for strategic adjustments in response to evolving market dynamics. For more detailed insights, read the full reports here: • MarketScreener Report • Electrek Article #AutomotiveIndustry #ElectricVehicles #JobCuts #ZFriedrichshafen #IndustryNews #FinancialStrategy #EVTransition

🚨 The German Automotive Industry: A Wake-Up Call 🚨 As a Brazilian professional working in the heart of the European automotive industry, I’ve always admired Germany’s reputation for precision, engineering excellence, and innovation. But recent months have been tough: 1️⃣ Volkswagen is closing plants and reporting a 64% drop in profits. 2️⃣ Ford plans to lay off 4,000 employees in Europe. 3️⃣ Supply chain disruptions and soaring costs are stalling production. 4️⃣ Chinese EV manufacturers are rapidly gaining market share. 5️⃣ The slow adoption of electrification is putting legacy manufacturers under pressure. 🔍 The big question: How can the German automotive market learn from global approaches to navigate these turbulent times? From my perspective, this isn’t just about market trends... Quality, trust, and innovation are no longer optional—they are the only way forward. How do you see the future of the German automotive industry? What role will quality and innovation play in driving recovery and innovation? It’s time to turn challenges into opportunities—with lessons learned from all corners of the world. 🚗⚙️ #AutomotiveIndustry #QualityManagement #Germany #Innovation