Continental has agreed to sell mycar Tyre & Auto, one of Australia’s largest automotive service and repair chains, to Chinese automotive services company Tuhu in a transaction based on an enterprise value of A$403 million, equivalent to approximately €250 million. The proposed transaction includes mycar’s network of approximately 280 stores and more than 1,600 employees across Australia. Completion remains subject to regulatory approvals.
The transaction forms part of Continental’s strategy to concentrate on its core business of developing and manufacturing tires.
Under Tuhu’s ownership, mycar will become part of a company focused on automotive maintenance, repair, and related services.
The acquisition also represents Tuhu’s entry into the Australian market, providing the Chinese company with an established national automotive service network.
Continental acquired mycar in 2018 as part of its efforts to expand tire distribution in Australia and strengthen its presence in the region.
Over the following eight years, mycar expanded its store network, broadened its product portfolio, and increased its market presence.
The company provides a range of automotive services, including scheduled vehicle maintenance, tire replacement, brake repairs, suspension work, battery replacement, and general mechanical repairs.
Its approximately 280 stores make it a major participant in Australia’s automotive aftermarket.
The transaction will transfer the business and its more than 1,600 employees to Tuhu, while maintaining an ongoing commercial relationship with Continental.
Following completion, mycar will continue distributing Continental tires in Australia.
Continental has developed its own local sales organization and expects to maintain its Australian market presence through that infrastructure and its continued distribution relationship with mycar.
The arrangement allows Continental to exit direct ownership of the automotive service chain while preserving an important route to market for its tire products.
For Tuhu, the acquisition provides a platform for expanding beyond China into another major automotive services market.
Tuhu operates an integrated online and offline automotive services platform, combining digital customer engagement with a large physical network of maintenance and repair facilities.
As of June 30, 2026, Tuhu’s network comprised 8,825 Tuhu Workshops.
The company also reported approximately 31 million transacting users during the preceding 12 months, demonstrating the scale of its established Chinese operations.
Tuhu’s services include tire replacement, automotive maintenance, chassis component replacement, mechanical repairs, and vehicle detailing.
The acquisition of mycar will allow Tuhu to apply its experience in automotive service operations, digital platforms, and customer engagement to an established Australian business.
Tuhu intends to work with mycar’s existing management team and employees while adapting its operating approach to Australian market conditions.
The company’s existing strategic relationship with Continental in China provides a foundation for continued cooperation following the acquisition.
For Continental, the divestiture represents a further step in its strategic realignment.
The company plans to continue serving Australian customers through its tire manufacturing and distribution operations while transferring mycar’s direct service and repair activities to Tuhu.
The transaction’s A$403 million valuation represents enterprise value, rather than the amount of cash Continental will necessarily receive after adjustments.
Closing remains contingent on obtaining the required regulatory approvals.
KEY QUOTES:
“mycar Tyre & Auto has developed very successfully under the Continental umbrella and is now exceptionally well positioned in the Australian market. In Tuhu, mycar Tyre & Auto is gaining an owner with many years of experience who will actively drive the company’s strategic direction and sustainable long-term development. Tuhu and Continental have a long-standing and strong strategic partnership in China. With our own sales organisation in Australia and the continued distribution of our tyres through the mycar Tyre & Auto network, we will ensure seamless continuity for our customers.”
Dalibor Kalina, Head Of Continental’s Tire Business In Asia-Pacific
“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. We look forward to working closely with the existing management team and employees, while continuing our long-standing partnership with Continental. As a new entrant to the Australian market from China, we are committed to adapting quickly to the local market and building on mycar’s strong foundation established under Continental’s management and its proven track record of responsible and reliable operations. By bringing Tuhu’s capabilities and experience to Australia, we look forward to continuing to deliver value, choice and convenience for Australian vehicle owners.”
Min Chen, Founder And CEO Of Tuhu
