Global automotive industry trends in the first half of 2024
The automotive industry faced significant challenges in the first half of 2024, mainly marked by a decrease in consumer demand for different types of vehicles. This scenario has directly impacted market activity, reflected in a lower number of mergers and acquisitions (M&A) transactions compared to the same period in 2023.
Financial indicators
In terms of financial indicators, EBITDA trading multiples showed a decrease compared to the previous half year, standing at x6.7 during the second quarter of 2024. This behavior reflects a market characterized by challenging conditions and increased caution on the part of investors and companies in the sector.
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Dynamics of the Spanish automotive sector
In the Iberian region, the automotive sector was highlighted by the acquisition of AKT Plásticos by Cie Automotive. Cie is a Spanish company known for its dedication to the manufacture of automotive components, while AKT Plásticos specializes in thermoplastic injection molding. This agreement highlights the trend towards greater specialization and consolidation in the sector.
Therefore, for the remainder of the year, EV/EBITDA multiples for 2024 are expected to be as follows:
> Multiproduct: x4.0
> Engines: x3.5
> Chassis: x4.7
> Finishes: x4.3
These multiples reflect significant differences between the different areas of the sector, highlighting the particularities and opportunities of each segment.
