Changing Lanes? Exploring Mergers and Acquisitions in the Global Auto Sector Through GPN 2.0

ABSTRACT There has been an increase in the volume of mergers and acquisitions (M&As) throughout the global auto sector, but there is strikingly little empirical detail surrounding the nature, evolution and geographies of this activity. This article addresses this gap by analysing intra‐ and inter‐sectoral M&A deals throughout the period of 2001–2020 to reveal the changing geographical and sectoral composition of the global auto sector. Adopting a GPN 2.0 framework sensitive to financial discipline, it demonstrates how M&As have become a central and growing feature of the auto sector. With the majority of M&A activity being inter‐sectoral, findings point towards the increasingly changeable and porous boundaries of auto sector GPNs.