Bossard Group reported sales in the third quarter of 2018 increased 9.3% to CHF 212.7 million (US$215 million), boosted by “vigorous” sales in the U.S. “due to increased demand from the largest U.S. electric vehicle manufacturer” (Tesla).

Q3 sales in the U.S. grew 16.2% to CHF 60.4 million, while sales in Europe rose 5.7% to CHF 117.6 million and sales in Asia rose 10.9% to CHF 34.7 million.

During the first nine months of 2018, sales increased 11.8% to CHF 659 million. Nine-month U.S. sales gained 8.2% to CHF 179.9 million, while sales in Europe rose 13% to CHF 378.1 million and sales in Asia increased by 13.7% to CHF 101.0 million.

Bossard said demand is “normalizing at a high level.”

“Indications from our customers as well as the purchasing managers’ indices in our key markets point to continued economic expansion,” the Group stated. Bossard therefore expects fourth quarter sales to be at a high level.” Bossard forecasts sales for 2018 will rise 10% to CHF 865 million. Web: Bossard.com