Deterioration of debt crisis in Europe leads to reduced Bosch orders

Bosch Group, the world’s largest parts supplier, revealed that its order volume is declining. The decrease in orders was mainly due to the gradual deterioration of the debt crisis in Europe, the slower recovery of the US economy and the sluggish sales volume in the Chinese auto market.

In an interview, Bosch CEO Franz Fehrenbach stated that the European debt crisis has brought great uncertainty to the entire economic environment, and this uncertainty is affecting Bosch's order volume. If the debt crisis continues to deteriorate, then Do not rule out the Great Depression. In addition, the speed of economic recovery in the US market is very disappointing, and the growth rate of the Chinese auto market is also gradually slowing down.

Fehrenbac criticized the German government's call to inject more investment into Greece. Fehrenbac believes that the German government expects the parts suppliers to supply parts to the Greek automotive industry is unrealistic. The Polish, Hungarian and Romanian car markets are even more competitive.

Fehrenbach also believes that government officials have made too little effort on the debt crisis in Europe. Fiscal austerity and financial aid are not enough to solve the problem. Europe needs a new Marshall Plan.

Bosch ranks first in the global list of top 100 parts and last year sales reached 34.5 billion US dollars.

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