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European Auto Suppliers saw revenues recover in 2021 but the outlook is weak

Bosch, Continental, Valeo and ZF post higher revenues in 2021 despite European market slowdown

Most major European Auto suppliers saw revenues rebound in 2021 but the ongoing war threatens further recovery to pre-COVID figures

This comes after a turbulent 2020 that saw the whole automotive industry shrink as the coronavirus pandemic compounded the transformational challenges players face.

The slowdown in vehicle sales in Europe was offset by a strong order book and new products in ADAS, software, electrification among others as auto suppliers move to software-defined vehicles and mobility services.

In 2021, Bosch’s revenues bounced back by 10% to €78.8 billion after a turbulent 2020 that saw the whole automotive industry shrink as the coronavirus pandemic compounded the transformational challenges players face.

Hanover-based Continental, the world’s second-largest automotive supplier by revenue behind Robert Bosch, saw sales drop by 15.0% in 2020 to €37.72 billion. The company’s Automotive Group accounted for 60.4% of total revenue in 2018 or €26.84 billion, an increase of over €26.73 billion in 2017.

ZF surpassed Continental in 2021 by automotive revenues reaching €35.1 billion, up from €32.6 billion in 2020. ZF’s Commercial Vehicle Technology division saw strong growth, similar to Electrified Powertrain and Car Chassis.

Finally, Valeo saw revenues rise by 5% in 2021 to €17.3 billion, as all their 3 divisions posted growth compared to 2020. Their “Visibility” business continues to hold the largest share, followed by Powertrain, Thermal, and CDA.

Auto Suppliers benefit from the rise in car sales: 11.96 million car sales in Western Europe in 2021

Car sales in Western Europe grew by 1% in 2021 year-on-year, mainly due to the impact of the semiconductor shortage that negatively impacted car production in H2 2021.

ACEA
11.96 million car sales in Western Europe in 2021

To learn more about the outlook of Automotive Suppliers in ADAS and Autonomous Driving, read our reports.

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