Daily brief
Automotive & Business Brief — 6 November 2026
Motherson posts record Q2 on a ~68% jump in harness revenue after the Nexans Autoelectric deal, and has 0.8x leverage left for more M&A.
Executive Snapshot
- Motherson posts record Q2 on a ~68% jump in harness revenue after the Nexans Autoelectric deal, and has 0.8x leverage left for more M&A.
Top Developments
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Samvardhana Motherson Q2 FY27: record revenue ₹38,280 crore (+27%), driven by acquisitions and wire harness; harness segment revenue ₹14,382 crore vs ₹8,550 crore a year ago; booked business at a record $106bn
Global
The board approved Q2 results on 5 Nov. EBITDA was ₹3,353 crore (+23%, margin ~8.8%) and profit attributable to owners ₹1,175 crore (+42%). The quarter is the first to consolidate Nexans Autoelectric and Elektrokontakt (closed July 2026). Motherson flags copper up 6% quarter on quarter as a continuing cost headwind. Net leverage is 0.8x, which leaves room for more deals; capex guidance is ~₹6,000 crore for the year, with 17 plants in progress. Separately, it is buying a Paraguayan SPV (Golden Bridge S.A.) to set up a new plant there. The stock fell about 7% in Mumbai this morning after gaining the day before.
Companies Motherson, Nexans
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Aumovio warns chip and PCB inflation will 'explode' in 2027 and expects a gross material-cost hit of at least €1bn; it will seek full recovery from OEMs, and earlier in the year than usual
Asia
The Q3 numbers were in yesterday's brief. What's new is the call commentary. Interim CFO Claus Bauer said AI data-centre demand lets chip, memory and PCB makers sell twice their capacity to buyers who aren't price-sensitive. Annual supplier contracts create a price 'cliff' on 1 January. Aumovio wants OEMs to compensate during the year rather than in Q4, and will cover the rest through redesigns and cost cuts. Berylls/AlixPartners also warns of renewed shortages because AI customers are reserving whole Asian PCB fabs. Aumovio shares closed down about 4–5% on 5 Nov.
Companies Aumovio
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Bosch to cut another 750 jobs at Abstatt (Vehicle Motion development) by end-2029, citing Chinese competition and engineering moving to China; planned German mobility cuts since 2024 now near 24,000
Asia
Staff were told on 4 Nov evening; a Bosch spokesperson confirmed to SWR. The site has ~5,300 people; cuts hit braking, vehicle-motion software, occupant safety and sensor development. Cross-Domain Computing Solutions and Bosch Engineering at the site are not affected. Bosch says Chinese OEMs are increasingly launch customers for steer-/brake-by-wire and customer-near development is shifting to China. Comes on top of 900 Nuremberg cuts (Sept).
Companies Bosch
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IG Metall metal round: Baden-Württemberg third round ended without a deal, but the union offered a time-limited 'solution corridor' (workforce contributions in return for binding site and job guarantees); four regions negotiate today
Europe
Südwestmetall's Peter Krause called the proposal 'a remarkable step' but said the sides are 'very far apart' on the overall package. Employers are still offering a €660 one-off in July 2027 plus 1.3% from July 2028; the union wants 5% over 12 months. IG Metall wants answers by Monday's NRW round in Düsseldorf. Third rounds run today (6 Nov) in Bremen (Küste), Berlin, Frankfurt (Mittelgruppe) and Hannover. About 22,000 joined warning strikes in northern Germany on 5 Nov, and Audi Neckarsulm and Opel Rüsselsheim also stopped work.
Companies Audi, Stellantis
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Stellantis extends the Fiat 500 stoppage at Mirafiori through 13 Nov, the fourth straight week; unions refuse to sign the short-time (cassa integrazione) agreement
Europe
Stellantis attributes the last two weeks to the shortage of the chip/engine control unit for the N3 GSE engine. Fiom and other unions say weak demand for the 500 Hybrid is the real cause and the chip is an 'alibi'. The earlier warning said disruption could last through December.
Companies Stellantis
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EU weighs an import 'kill-switch' instrument to restrict market access quickly in serious disruptions; China threatens retaliation
Asia
Brussels is preparing a formally country-neutral tool that would let it restrict imports or cut market access quickly in response to severe disruption or unfair treatment, widely seen as aimed at China. It is to be presented by year-end as part of Trade Commissioner Šefčovič's diversification package. Beijing warned it would retaliate. EU–China talks continue, and nothing has been adopted.
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Insolvent German supplier Bayrak stops production and will close its Rehburg-Loccum (Lower Saxony) plant on 31 Jan 2027, cutting ~270 jobs, after no buyer was found and customers pulled orders
Europe
A reconciliation of interests and a social plan have been agreed with the works council. This is the company's second insolvency in a short period; earlier reports put ~400 jobs at risk across the group.
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Daimler Truck Q3: revenue €11.6bn (+20%), adjusted EBIT €1,124m (+73%), return on sales 9.1%; Trucks North America unit sales +51%; full-year guidance confirmed
Americas
Free cash flow in the industrial business was €974m, helped by a partial sale of the ARCHION stake. Mercedes-Benz Trucks raised revenue and adjusted EBIT (sales +13%), while Daimler Buses volumes fell 16%. Group incoming orders rose 10%.
Companies Daimler Truck, Mercedes-Benz
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AI/chip sell-off hits connector peers: Amphenol −9.3% and TE −6.3% on 5 Nov; Aptiv −5.6% to a new 52-week low; Japanese cable makers fall further in Tokyo today
Asia
A broad tech sell-off after Qualcomm's results and worries about AI capex hit the names priced for data-centre growth. Amphenol closed at $71.64, TE at $206.36 and Aptiv at $40.85. Lear (−3.9%), Magna (−4.3%) and Versigent (−4.0%) also fell. In Tokyo this morning Fujikura was down about 9%, Furukawa about 9% and Sumitomo Electric about 5%, extending the earlier slide.
Companies Amphenol, TE Connectivity, Aptiv, Qualcomm, Lear, Magna, Versigent, Fujikura, Furukawa Electric, Sumitomo Electric
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Valeo and QNX launch a production-ready front-view smart camera platform at CIIE Shanghai, with design wins at several Chinese OEMs and production expected this year
Asia
It combines QNX OS for Safety with Valeo's ADAS hardware and full software stack. The design wins are China-first.
Companies Valeo
Earnings Calendar
| Date | Company | Event | What to watch |
|---|---|---|---|
| Daimler TruckOEM | full-year guidance of 7–9% confirmed. ([Daimler Truck](https://www.daimlertruck.com/en/newsroom/pressrelease/daimler-truck-profitability-rebounds-as-markets-recover-53654175)) | ||
| Furukawa ElectricWire harness | Furukawa Electric H1 | ||
| HondaOEM | Honda H1 | ||
| InfineonElectronics | Infineon FY results |