Bosch Philippines shows strong recovery in Q1 2010

Posted: June 30, 2010 in Tech

Parallel to sales developments of Bosch worldwide, the company’s local subsidiary is experiencing robust growth in the current year with its Automotive Aftermarket and Power Tools divisions generating 80 percent and 36 percent first quarter growth, respectively, compared to the same period last year. This, after the aggregate Bosch business in the country took a 25 percent dip in 2009.

“The Philippine situation gives Bosch a reason to be cautiously optimistic in 2010,” according to Mr. Cem Peksaglam, President and Managing Director of Robert Bosch SEA Pte Ltd who represents the Bosch Group in South East Asia, citing GDP projections of 4.1 percent for 2010 and 4.5 percent for 2011. “We remain confident in our long-term strategy as we continue to pursue opportunities for future growth in our business portfolios.”

With local car sales growing some 6.4 percent in 2009, Bosch aftermarket vehicle components experienced increased demand, mainly for electrical parts, fuel injection components, anti-lock braking systems (ABS) and diagnostic equipment. This year’s first trimester growth in car sales stands at 37 percent with April registering the highest growth rate at 43 percent.

“The Philippine car parts market is cost-driven but the awareness of quality being cheaper in the long-run is growing,” explains Joseph Hong, Managing Director and concurrent head of Robert Bosch Inc. Philippines’ Automotive Aftermarket division. The company recently increased its parts coverage of the growing vehicle car park, which is pegged at over 6 million registered vehicles.

The auto services industry has also grown significantly in terms of scope and capability. To date, the company has a growing number of accredited Bosch Car Service outlets as far up north as Ilocos Norte and south in Zamboanga.

The domestic market for construction and development as well as home improvement and repair also experienced steady growth in 2009, averaging over 1.3 million square meters of building area constructed per month. Towards this, Bosch supplies the industry with precision tools that help developers deliver projects on time, according to specification and within budget.

Mr. Peksaglam added that Bosch will continue to invest in future-oriented technologies that harness renewable sources of energy, clean and efficient mobility as well as initiatives that help build the community.

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Comments
  1. bosch servis says:

    thanks for information

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