Tuhu agrees conditional deal to buy mycar operator
NewTimeSpace and Tyre News report that Tuhu has signed a conditional agreement to acquire Continental’s Australian mycar business; the sale has not been completed.
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Conditional agreement
NewTimeSpace and Tyre News report that Tuhu agreed on 24 September 2026 to buy Conti Trade Australia Pty Ltd, which operates the 279-store mycar Tyre & Auto network, from Continental. Both publications describe the agreement as conditional, rather than a completed change of ownership. 12
NewTimeSpace identifies the buyer as TUHU Car (Hong Kong) Limited, an indirect wholly-owned Tuhu subsidiary, and the seller as Continental Global Holding Netherlands B.V., a wholly-owned subsidiary of Continental AG. It says the agreement covers all of Conti Trade Australia’s issued shares. 1
NewTimeSpace reports an agreed enterprise value of A$403 million and a cash payment at completion currently estimated at A$278.33 million after net-debt and working-capital adjustments. Tyre News says the payment remains subject to adjustment after completion, so the estimate is not a final purchase price. NewTimeSpace identifies Australian Competition and Consumer Commission and Federal Treasurer approvals among the conditions for completion. 12
Network and continuity
Tyre News reports that mycar has more than 1,600 employees and recorded revenue of A$524.7 million in 2025, up from A$491.8 million in 2024, citing Tuhu’s filing. It says Continental acquired the chain as Kmart Tyre and Auto Service in 2018, when it had 258 branches, before the business was renamed mycar. 2
Tyre News reports that Continental says mycar will continue selling Continental tyres after completion. The publication also says Continental has developed its own Australian sales organisation; the proposed transaction would change ownership of the servicing network without ending the reported tyre-supply relationship. 2
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2 cited pages across 2 websites
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- newtimespace.com1 page
- tyrenews.co.uk1 page
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- TUHU-W (09690.HK): To Buy Australia's mycar Chain for A$403MRole not assessedSource extract saved
Why these labels?TUHU-W (09690.HK): To Buy Australia's mycar Chain for A$403M
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Cited in 3 paragraphs: Conditional agreement.
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Text retrieved 29 Sep 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
- Continental Agrees A$403m Sale of mycar to TuhuRole not assessedSource extract saved
Why these labels?Continental Agrees A$403m Sale of mycar to Tuhu
Who produced it
We have not documented this publisher’s role. An unassigned label is not a negative rating.
How this report uses it
Cited in 4 paragraphs: Conditional agreement; Network and continuity.
This describes its use in our report. It does not establish the source’s editorial stance or independently corroborate every claim.
Evidence record
Text retrieved 29 Sep 2026. The retained extract did not reach our text limit. Extraction can still omit page content.
Keep reading
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Tuhu agrees conditional A$403m acquisition of mycar’s Australian network
Tuhu has agreed to buy Continental’s Australian mycar tyre and auto service chain in a conditional A$403 million transaction that remains subject to local approvals.
