Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMergers & Acquisitions

Global auto deals doubled in 2018: PwC

The number of deals worth more than $1 billion, at 20, was the highest ever recorded by PwC, and more than twice the average seen over the previous three years.

January 24, 2019 / 01:23 PM IST
March has been a tough month, not just for the auto industry but all over India, manufacturers have been shutting their doors thanks to the coronavirus outbreak. With this mind, while sales in the auto industry did happen, there were some losers. To keep things in perspective, here are the top losers when it comes to cars compared to February.

March has been a tough month, not just for the auto industry but all over India, manufacturers have been shutting their doors thanks to the coronavirus outbreak. With this mind, while sales in the auto industry did happen, there were some losers. To keep things in perspective, here are the top losers when it comes to cars compared to February.

Global auto industry mergers more than doubled to an all-time high of $97.5 billion in 2018 from a year earlier, driven by mega-deals in the automotive parts sector, according to a report released on Thursday by consultancy PwC.

Five mega-deals, worth a combined $42 billion, in the component suppliers segment accounted for 43 percent of the total value of M&As last year as companies invested to keep up with a shift by carmakers into autonomous driving, connected cars and electric vehicles, the report said.

Cross-border M&A activity slowed in 2018 due to increased trade tensions and less focus on geographic expansion, PwC said.

The number of deals worth more than $1 billion, at 20, was the highest ever recorded by PwC, and more than twice the average seen over the previous three years.

The availability of capital and the pace of change in the industry should lead to a strong M&A environment this year despite macroeconomic headwinds, the report said.

Invite your friends and family to sign up for MC Tech 3, our daily newsletter that breaks down the biggest tech and startup stories of the day

Reuters
first published: Jan 24, 2019 01:20 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347