Continental to sell Australian mycar Tyre & Auto network to China's Tuhu for A$403 million

The announcement and the deal value

Continental has announced an agreement to sell its Australian subsidiary mycar Tyre & Auto to Tuhu, a leading Chinese automotive service platform, with the transaction based on an enterprise value of A$403 million, equivalent to about €250 million. Japanese outlet Response reported the deal on 30 September 2026, and multiple other outlets carried the announcement from 24 September, all citing the same valuation and the same condition: completion remains subject to regulatory approval. The sale has been announced but not yet completed. ^1235678

Investing.com reported on 24 September 2026 that the transaction marks Continental's exit from the Australian automotive retail market through the sale of the subsidiary to the Chinese services company. Continental's own statement, quoted by Just Auto on Yahoo Finance, framed the sale in similar terms: "The transaction marks another step in Continental's strategic focus on its core business to develop and manufacture tyres." ²⁵⁶⁷⁸

What transfers with the business

Mycar Tyre & Auto is described by Response as one of Australia's largest tyre, automotive service and repair chains, operating approximately 280 stores nationwide and employing more than 1,600 people. Just Auto's reporting, carried by Yahoo Finance, put the figure at 279 stores, a minor variance on the company's rounded "around 280" description. All of the stores and the entire workforce are included in the deal. ¹²³⁴

According to Continental's announcement as carried by Traction News, mycar offers scheduled maintenance, tyres, brakes, suspension, batteries and general mechanical repairs, and with more than 1,600 employees ranks among the largest employers in Australia's automotive service and repair industry. ³

Continental's ongoing ties to the network

Although mycar will change hands, Continental will retain its own sales organisation in Australia. Once the transaction is completed, mycar Tyre & Auto will continue as a Continental distribution partner, maintaining sales of Continental tyres through the network, a point made in Continental's announcement and echoed across the reporting from Traction News, Just Auto and Automotive World. ²³⁴

Dalibor Kalina, head of Continental's tyre business in the Asia-Pacific region, said in the company's statement, quoted by Traction News: "mycar Tyre & Auto has developed very successfully under the Continental umbrella and is now exceptionally well positioned in the Australian market." He added that with its own sales organisation in Australia and continued distribution through the mycar network, Continental would "ensure seamless continuity for our customers". ³

Automotive World's report, sourced to Continental, noted that the companies already cooperate in China and see scope for closer ties, and that Tuhu's statement committed to working closely with the existing mycar management team and employees while continuing the long-standing partnership with Continental. ⁴³

Tuhu's first move into Australia

For Tuhu, the acquisition provides an immediate national network in a market it has not previously operated in. Traction News, drawing on the Continental announcement, described Tuhu as operating the world's largest automotive service network by number of stores under management and serving the largest user base among Chinese automotive service platforms. As of 30 June 2026, its network comprised 8,825 Tuhu Workshops, with approximately 31 million transacting users in the twelve months to that date. ³²

Tuhu founder and CEO Min Chen said in the company statement, quoted by Automotive World: "Australia is a highly attractive and promising market for automotive services, and mycar Tyre & Auto is a distinctive business with a strong position in this market." He added that, as a new entrant to the Australian market from China, Tuhu was "committed to adapting quickly to the local market" and building on mycar's foundation established under Continental's management. ⁴³

Eight years under Continental ownership

Continental originally acquired mycar Tyre & Auto in 2018 as a means of broadening its distribution reach in the Australian market, as Just Auto reported via Yahoo Finance. Traction News added that over the roughly eight years of Continental ownership, Australia became an established and important market for the company, with mycar strengthening its position through an expanded store network, a broader product portfolio and enhanced market presence. ²³

Part of a wider Continental divestment program

The mycar sale is one piece of a broader reshaping of Continental's portfolio. Just Auto's report, published via Yahoo Finance, noted that in July 2026 the company agreed to sell its ContiTech industrial division, which employs approximately 22,000 people worldwide and makes components such as conveyor belts and air springs, to a Lone Star Funds affiliate in a transaction worth €4 billion. In February 2026, Continental also divested ContiTech's former Original Equipment Solutions business area, and in September 2025 it spun off its former Automotive group sector, now trading on the Frankfurt Stock Exchange under the name Aumovio. ²