The demand for road transport of cargo has steadily increased, something which greatly benefits our industry.

      However, more trucks does not necessarily mean more pollution of the environment. The exhaust gas norm Euro 4 will become mandatory in Europe as of next year. This means for commercial vehicles nitrous oxides will be reduced by 40, particulates by 80 percent. To put it even more accurately: a truck with an annual mileage of 150,000 kilometers will blow 300 kilograms less nitrous oxides and about 16 kilograms less soot into the environment.

      A great share in this achievement, technologically speaking, will be due to diesel systems by Bosch. We see to it that commercial vehicles on the road become cleaner.

      But truck technology is not only diesel engineering. It also includes starter motors, alternators and multiplex on-board electronics as well as telematics systems. All in all, the Bosch Group generates sales of more than 3.5 billion euro with commercial vehicle manufacturers all over the world this year. This makes us one of the major suppliers to this industry.

The market: truck business is booming

      Our business with equipment for commercial vehicles is currently booming. This is due, first and foremost, to the economy. Commercial vehicle sales all over the world are carried by the increasing investment activity. In the first half of 2004, sales increased worldwide by 10 percent, which is twice the demand expressed for passenger cars. This trend could be observed in most countries: in Germany, sales of commercial vehicles in the first six months of the year were up 9 percent, which is on par with the rest of Western Europe. Growth in Japan amounted to 5, in Brazil to 26 and in India to 43 percent. North America, on the other hand, shows a diverse picture: sales of light trucks increased by 5, but medium and heavy trucks by 30 percent. Pent up demand for passenger cars in China is so immense that it outran the sales of trucks – but even then increases of some 20 percent could be registered in the first half of 2004. Truck markets are booming.

      We expect an increase in commercial vehicle sales next year by almost 5 percent worldwide, which is more than for passenger cars. This confidence is supported by the long-term sales forecasts of our divisions. In this we are not only profiting from the general market development. We notice a significant increase in demand for our innovative products – especially...

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