FRANKFURT, Jan 30 (Reuters) – Bosch, the world’s biggest spare parts supplier, warned on Friday of another tough year in 2026 and postponed a 7 percent margin target as it does not expect costs or competitive pressure to ease in a sector hit by tariffs around the world.

Last year, Bosch announced another 13,000 job cuts, or about 3% of its total workforce, to protect margins and ensure it remains competitive in light of import tariffs and falling prices that have hurt its business.

Chief executive Stefan Hartung told Reuters last year that 2026 would be tough, warning that the car industry would “remain a highly competitive sector where there will be a fight for every penny”.

As a result, the company said it now expects to start reaching its 7% profit margin in 2027 at the earliest, having previously been forecast to arrive this year.

“There are many signs of a slight slowdown in global economic growth,” Bosch finance chief Markus Forschner said in a statement. “Competitive and pricing pressures are likely to increase further and rising tariffs will have their full impact for the first time.”

In 2025, sales rose 0.8 percent to 91 billion euros, while operating margin fell to 1.9 percent from 3.5 percent, the company said when it released preliminary results last year.

(Reporting by Christoph ‌Steitz; Editing by Kirsten Donovan)