News@BDO
Date:
In Q4-2025, a total of 126 transactions in the global automotive sector have been observed, which is in line with the previous quarter’s transaction count (130 transactions). Compared to the record high trans-action activity in Q4-2024 (139 transactions), deal count slightly decreased by 13 transactions or 9.4%.
Asian domestic deals made by far the largest contribution to Q4-2025 sector deal flow with a total of 54 transactions. European domestic transactions contributed 30 transactions, followed by North America with 14 transactions.
As per February 2026, European automotive suppliers trade at an implied EV/EBITDA 26E multiple of 4.8x (median-based) which is a small decrease of 0.3x EV/EBITDA multiple points compared to 5.1x as per BDO’s Q3-2025 valuation analysis.
At the same time North American automotive suppliers’ valuation levels increased. The implied EV/EBITDA 26E multiple stood at 5.9x (median-based) in February 2026 compared to 5.3x as per the Q3-2025 automo-tive sector update.
APAC stock-listed automotive suppliers traded at an implied EV/EBITDA 26E multiple of 5.9x compared to 5.4x in the last quarter representing a significant valuation inflation of 0.5x EV/EBITDA multiple points.
In line with the observed mid-term historic trading pattern, North American stock-listed automotive sup-pliers continue to deliver share price outperformance over their European and Asian peers. Over the last three years, the North American automotive supplier peer group experienced a total share price apprecia-tion of 82% compared to 66% of the APAC peer group and a negative 5% of European peers.
Within our European automotive supplier peer universe, Schaeffler continues to be the best performing share. On the back of the company’s initiatives in humanoid robotics and e-mobility, Schaefflers’ share price rose by plus 109.8% over the last six months (as per February 2026).
In North America, the share price of Dauch Corporation performed similarly (plus 106.9%) over the same period. The growth is primarily attributed to the transformational merger with Dowlais Group, company rebranding (from American Axle to Dauch Corporation) and consistent earnings outperformance.
The electrification trend of the EU’s vehicle fleet continued with a total of 1.9m newly registered BEVs in 2025.
Total BEV registrations in the EU in 2025 rose by +432k (+30%) to 1,880k units (vs. 1,448k in 2024).
New car registrations of classic petrol or diesel type cars remain very relevant but continue to steadily decline.
In 2025, HEVs led the charts with a 35% share of all EU car registrations, followed by petrol (27%) and BEVs (17%) while diesel and PHEV both achieved a 9% share.
Among the larger EU markets, the Spanish market achieved high growth rates in terms of both new car registrations (+13% in 2025) as well as for BEVs (up +77% vs. 2024).
On the other end, 2025 new car registrations in France declined by (-5%) vs. 2024, although BEV registra-tions slightly increased by (+13%).
German car registrations for the same period remained stable (+1.4%), albeit with a strong increase in BEV registrations (+164k units or +43% to now 545k per 2025), underlining a shift in consumer sentiment.
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