Total automotive industry M&A deals worth $6.4bn were announced in the US in Q1 2022, led by Cummins’ $3.7bn acquisition of Meritor, according to GlobalData’s deals database.

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The value marked an increase of 3353.1% over the previous quarter and a rise of 117.6% when compared with the last four-quarter average of $2.96bn.

The US held a 73.18% share of the global automotive industry M&A deal value that totalled $8.8bn in Q1 2022.

In terms of deal activity, the US recorded 35 M&A deals during Q1 2022, marking an increase of 52.17% over the previous quarter and a rise of 68.67% over the last four-quarter average.

US automotive industry M&A deals in Q1 2022: Top deals

The top five automotive industry M&A deals accounted for 100% of the overall value during Q1 2022.

The combined value of the top five automotive M&A deals stood at $6.44bn, against the overall value of $6.4bn recorded for the quarter.

The top five automotive industry M&A deals of Q1 2022 tracked by GlobalData were:

1) Cummins $3.7bn acquisition deal with Meritor

2) The $2.1bn acquisition of GM Cruise by General Motors

3) Cummins $325m acquisition deal with Jacobs Vehicle Systems

4) The $255m acquisition of dlhBOWLES by ABC Technologies

5) ARI Network Services $57.5m acquisition deal with Highline Sale Investor Group