Bosch Profit Slips on Weak Car Demand
Bosch reported lower first-half profitability as stagnant car production and impairment charges weighed on earnings. The automotive supplier confirmed its full-year outlook.
Bosch Group reported an operating profit margin of 4.6% for the first half of the year, down from 5.1% a year ago. The dip stems from stagnant car production and impairment charges on production facilities in Germany. Weaker electric vehicle adoption and persistent cost pressures weighed on the supplier's mobility division.
