Industry News

GCC Market

Abu Dhabi taxi fleet reaches 99% hybrid or electric

About 99% of Abu Dhabi's taxi fleet of more than 6,147 vehicles is now hybrid or electric, according to figures reported by Gulf News. The Integrated Transport Centre operates the emirate's two taxi services, which recorded more than 60 million passenger journeys in 2025, with smart bookings at 18% of the total.

Our thoughts A Gulf fleet that is almost fully electrified shows taxi operators will buy these drivetrains at scale, which makes fleet tenders a practical early route for hybrid suppliers in the region.

Global Market

China's top five carmakers lift overseas sales 83% in October

BYD, SAIC, Geely, Chery and Changan sold a combined 1.76 million vehicles in October, almost level with a year earlier. Overseas sales rose 83% to 743,000 while domestic sales fell 25% to 1.018 million; Chery Group sold 200,600 of its 296,000 vehicles abroad. China's export VAT rebate for new-energy vehicles drops from 13% to 9% on 1 April 2027.

Our thoughts The rebate cut gives Chinese exporters of plug-in models a reason to ship more before April, so GCC distributors could see heavier stock and sharper offers in early 2027.

Global Finance & M&A

Autoneum agrees to buy French supplier Trèves for up to EUR64m

Swiss supplier Autoneum will pay up to EUR64m (USD72m) for Trèves: about EUR40m up front, mostly in new shares, and an earn-out of EUR24m tied to results by 2029. Trèves, which makes acoustic and thermal insulation and interior trim, has about 4,600 staff at 26 plants in 15 countries and had revenue of around EUR720m in 2025. The deal adds hubs in Morocco, Romania and Brazil and should close early in the first quarter of 2027.

Global Launches

Geely to start selling cars in Ireland in early 2027

Geely expects to begin Irish sales in the first quarter of 2027 with three new EV models, including the E2, and plans to open a Dublin headquarters this month while it builds a dealer network. Chinese-owned companies account for 8.3% of new-car registrations in Ireland so far this year, a little over 10,000 cars.

Global People

Stellantis puts European fleet and used-car units under Joël Verany

Stellantis has combined its European business-to-business and used-vehicle activities into one division covering about 1.7 million vehicles a year. Joël Verany, who already ran B2B, has been promoted to lead it and reports to Maurizio Zuares, head of commercial operations for Enlarged Europe. Used-vehicle chief Ana Theresa Borsari now reports to him.

Our thoughts Fleet sales and used cars are linked because fleet returns become used stock, a connection GCC distributors with large rental and corporate customers also have to manage.