M&A in auto sector up 73% to $449 million in CY19 despite slowdown

Growth led by $275 million Mahindra-Ford deal, domestic volumes cross $100-million mark first time since 2017 to touch $141 million

Despite the slowdown in the auto industry during the past 12 months, mergers and acquisitions in the sector rose by around 73 per cent to $449 million, from $260 million during January to October 2019. The deals include domestic and crossborder mergers, and internal restructuring. The growth was led by the Mahindra-Ford deal, valued at $275 million.

According to Grant Thorton data, domestic volumes crossed the $100-million mark for the first time since 2017 to touch $141 million in 2019, from $46 million last year, up over 200 per cent year-on-year. Crossborder deals, on the other hand, dropped by about