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.
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.
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.
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.
BMW cuts its 2026 car margin guidance for a second time
BMW now expects a 2026 automotive EBIT margin of between -0.5% and +0.5%, down from 1–3%, citing fourth-quarter charges from restructuring. Third-quarter revenue fell 5.8% to EUR30.45bn (USD34.2bn) and deliveries 6.3% to 551,075, with China down 25%. Chairman Milan Nedeljković confirmed a 20% cut in senior vice-president roles and said BMW is considering exporting China-built cars to other Asia-Pacific markets.
Our thoughts A German premium brand weighing exports from its Chinese plants shows how global supply is being redrawn; GCC importers should watch whether China-built BMWs are ever offered to the Gulf.
Preliminary China Passenger Car Association data show October passenger-car retail sales down 25% year on year to 1.693 million, while new-energy vehicles fell 10% to 1.148 million, a record 67.8% share. Wholesale volumes, which count factory shipments, fell only 10% to 2.635 million.
Our thoughts With retail sales at home falling far faster than factory shipments, Chinese makers have every reason to push more cars abroad; expect sharper pricing and more brands competing for GCC distributors.
EU Parliament committee votes to soften 2035 car CO2 target
The European Parliament's environment committee voted 48 to 30 to cut the 2035 CO2 reduction target for new cars from 100% to 87.5%, with up to 7.5 more points available through credits for low-carbon steel made in the EU. The full Parliament votes in December, after which the text must be agreed with member states.
Our thoughts If adopted, the change keeps European makers developing combustion and plug-in hybrid models beyond 2035, which supports the drivetrains most GCC buyers still choose.
Volvo Cars' three-month sales fall 16% on China and US weakness
Volvo Cars sold 141,656 cars in the three months to October, down 16% on a year earlier, citing weak demand and local competition in China and the end of EV incentives in the US. Fully electric models rose to 34% of sales, and European orders for the new EX60 have passed 50,000.
Our thoughts With early EX60 output aimed at strong European demand, smaller markets such as the GCC may see limited first allocations.
Honda says it could resume building cars in Europe
Honda's head of Europe, Hans de Jaeger, said the company could build cars in Europe again, alone or with a partner, depending on the final form of the EU's proposed Industrial Accelerator Act, which would favour vehicles meeting 'Made in EU' content rules. He said there is no current plan and that present volumes would not justify a plant; Honda stopped making cars in the UK and Turkey in 2021.
Our thoughts Local-content rules are pulling Japanese makers back towards building where they sell, competition that GCC states seeking assembly investment will have to match with their own incentives.
Schaeffler to cut 3,460 European jobs and close five sites
German supplier Schaeffler plans to cut a net 3,460 jobs at 16 European locations, about 2,660 of them in Germany, closing four German sites and one in Belgium. It expects one-off costs of about EUR480m (USD540m) and yearly savings of about EUR300m (USD337m) from 2030.
Continental raises its 2026 margin and cash-flow outlook
Continental, now chiefly a tyre maker, reported third-quarter adjusted EBIT up 6.7% to EUR514m (USD578m), a 14.9% margin. It raised its 2026 adjusted EBIT margin target to 13.4–14.0% and its adjusted free cash flow forecast to EUR1.0–1.3bn.
Thailand raises excise tax on imported EVs to 35% from 2027
Thailand's cabinet has approved raising the excise tax on imported battery-electric vehicles from 10% to 35%, and on imported range-extender EVs from 15% to 35%, from 1 January 2027. The government says it will offer reduced-rate incentive packages to investors that set up or expand manufacturing in Thailand, to protect local jobs and its role as a regional export hub. Some Chinese brands, including Leapmotor and Voyah, are studying local assembly.
Our thoughts Thailand links tax relief directly to local manufacturing, a working model for GCC governments that want assembly plants; it is also likely to deepen Chinese and Japanese production in a country that already ships pick-ups and SUVs to the Gulf.
Ferrari raises 2026 guidance as third-quarter profit rises 13%
Ferrari's third-quarter net revenues rose 7% to EUR1.896bn (USD2.1bn) and net profit 13% to EUR431m (USD484m), although shipments slipped to 3,368 cars on lower deliveries to China. It raised its 2026 targets to about EUR7.65bn of revenue and at least EUR3.0bn of adjusted EBITDA, citing demand for personalisation, and says its order book runs into 2028.
Our thoughts An order book stretching into 2028 means long allocation queues for GCC dealers and their customers, and little need for the brand to discount anywhere.
Hyundai and Kia post record October sales in the US
Hyundai Motor America sold 73,452 vehicles in October, up 5% and its best October yet, with hybrids up 20% to 29% of volume. Kia America's sales rose 16% to 80,008, helped by a 63% rise for the Telluride.
Our thoughts Strong US demand for the hybrids and large SUVs Hyundai and Kia also sell in the Gulf could tighten allocations for GCC distributors in 2027.
Briefs summarise reporting by the outlets linked under each item; follow the links for the original. Our thoughts are our own view, for general information only and not advice. See our disclaimer.
