Deals · November 2026
Automotive M&A Counsel in 2026: Clients Come Back More Often
Automotive clients averaged 2.4 deals each over 12 months, against 1.8 across corporate and M&A, and corporate lawyers worked on 28.0% of the sector's deals. Capital markets lawyers sit on slightly more.
The short version
- Automotive clients averaged 2.4 deals each in 12 months, against 1.8 for corporate and M&A clients.
- Corporate and M&A lawyers worked on 28.0% of automotive deals, just behind capital markets lawyers at 31.5%.
- Disputes and investigations were 27.4% of automotive deals, against 25.0% of all deals on record.
- Frankfurt lawyers worked on 15.0% of automotive deals with a known lawyer location, against 10.0% of industrial manufacturing deals.
- The automotive deal count held flat (+2.8%) year on year, while the corporate and M&A deal count rose 9.5%.
The analysis
A general counsel at a carmaker or a parts supplier who is comparing automotive M&A law firms is buying into a client base that returns often. Sartori & Partners data show 803 automotive deals on record in the 12 months to October 2026, for 338 distinct clients: 2.4 deals per client. Across all corporate and M&A work the figure is 1.8, from 11,230 deals and 6,411 clients. Corporate and M&A lawyers worked on 28.0% of the sector's deals. What follows asks what that pattern means for the next mandate: which bench sits on the work, where the work is done, and how the sector has moved against the practice.
- 2.4
- deals per automotive client, 12 months
- 1.8
- deals per corporate and M&A client
- 28.0%
- automotive deals with corporate and M&A lawyers
- +2.8%
- automotive deals year on year (flat)
Automotive clients return for more deals than the practice's clients do
The gap between the two ratios is the central fact. An automotive client on record averaged 2.4 deals in 12 months; a corporate and M&A client averaged 1.8. Industrial manufacturing, the closest neighboring sector, sits between the two at 2.0 deals per client, from 985 deals and 487 clients. One caution on what a deal is here: the counts are matters on record, court filings included, not revenue. The automotive count carries a large disputes share, covered below, so repeat matters in this sector are part capital markets and disputes work, not only M&A. Size runs in the same direction as frequency. Where a value was disclosed, on 16.4% of automotive deals, the median was $500 million, against $315 million for corporate and M&A deals with a disclosed value (17.7% of them). For a company, the consequence is practical: an adviser in this sector tends to meet the same client again, so the first appointment is closer to a standing relationship than a single transaction. Test the continuity of the team, not only the deal partner.
Capital markets lawyers sit on slightly more automotive deals than corporate lawyers
Practice labels show who staffs the work. Capital markets lawyers were on 31.5% of automotive deals and corporate and M&A lawyers on 28.0%, a gap of 3.5 points. Both shares run above the market's: capital markets lawyers worked on 26.4% of all deals and corporate lawyers on 23.3%. Industrial manufacturing reverses the order, with corporate and M&A lawyers on 45.3% of its deals and capital markets lawyers on 28.7%. One deal can carry several practices, so these shares overlap and are never added. Intellectual property lawyers were on 13.0% of automotive deals, and product liability lawyers on 6.0%, against 2.1% across the market. A general counsel planning an M&A mandate should expect the corporate partner to share the file with capital markets colleagues more often than on a typical industrial deal, and should ask at the pitch who leads when both are needed.
| Practice | Automotive | All deals |
|---|---|---|
| capital-markets | 31.5% | 26.4% |
| corporate-and-ma | 28.0% | 23.3% |
| intellectual-property | 13.0% | 11.1% |
| product-liability-and-torts | 6.0% | 2.1% |
| banking-and-finance | 5.6% | 6.3% |
| litigation-and-disputes | 5.0% | 3.7% |
| restructuring-and-insolvency | 2.5% | 1.5% |
Disputes take a larger slice of the sector's deal mix than of the market's
By deal type, capital markets led the automotive mix at 30.6% of the sector's deals, ahead of disputes and investigations at 27.4% and M&A at 24.0%. Across all deals the same three types stood at 25.7%, 25.0% and 19.3%. M&A therefore takes a larger share of automotive work than of the market's, but a far smaller one than in industrial manufacturing, where M&A was 40.0% of deals and disputes 11.1%. The disputes share is why automotive counsel lists read differently from a purely transactional ranking: intellectual property and product liability matters sit in the same count as acquisitions. Some deals carry no type label, so these shares are of all dated deals and do not form a full split. For a buyer of M&A advice, a firm's automotive deal count is not an M&A count; ask how many of its sector matters were transactions.
Frankfurt carries more of the automotive work than of manufacturing work
Where the lawyers sit decides how a team is staffed. New York lawyers worked on 30.1% of automotive deals with a known lawyer location, against 31.9% of industrial manufacturing deals, a close match. Frankfurt is where the sector parts company with its neighbor, at 15.0% against 10.0%. Munich (9.3% against 5.8%) and Hamburg (5.9% against 4.7%) point the same way, and Düsseldorf lawyers worked on 8.8% of automotive deals. London runs the other way: 10.3% of automotive deals against 16.5% of manufacturing deals. One deal can count in several cities, so the shares overlap; they describe where the work is done, not how many lawyers sit there. For a company outside Germany, German capability is a selection test in its own right; Frankfurt is the sector's second city on this measure, behind New York.
| City | Automotive | Industrial manufacturing |
|---|---|---|
| new-york | 30.1% | 31.9% |
| frankfurt | 15.0% | 10.0% |
| washington-dc | 12.3% | 14.9% |
| london | 10.3% | 16.5% |
| munich | 9.3% | 5.8% |
| hamburg | 5.9% | 4.7% |
The sector held flat while corporate deal work grew
Year on year, the automotive deal count held flat (+2.8%), at 800 deals in the latest settled 12 months against 778 a year earlier. The corporate and M&A deal count rose 9.5% over the same windows, at 11,170 against 10,198, and the whole deal market rose 10.6%. Industrial manufacturing held flat (+3.2%). In the Sartori & Partners lateral database, hiring in the practice tracked the practice rather than the sector: the count of corporate and M&A lateral moves rose 15.8%, at 2,933 against 2,532. Those are moves of lawyers, not deals, and they sit beside the automotive count without explaining it. For a company, a level sector inside a growing practice means the same partners are in demand on other work; book the team early and confirm in the engagement letter that the named lawyers stay on the file.
Two firm lists, and two names on both
The firm lists answer different questions, and neither is a list for automotive M&A. The automotive list ranks firms by all the sector's deals on record, disputes and capital markets included; the corporate and M&A list ranks firms by all the practice's deals in every sector. No list is published for the pair. Two firms appear on both: Latham & Watkins, first on each, and White & Case. The first-ranked firm sits in the 41-60 band of automotive deals, against 401-700 across corporate and M&A, which shows how small the sector is next to the practice. A shortlist built from either list alone mixes sector work with practice work; use both, then ask each firm for its automotive M&A matters by name of the team.
| Rank | Firm | Band |
|---|---|---|
| 1 | Latham & Watkins | 41-60 |
| 2 | Mayer Brown | 21-40 |
| 3 | Clifford Chance | 21-40 |
| 4 | Ballard Spahr | 21-40 |
| 5 | Linklaters | 21-40 |
| 6 | Wheeler Trigg O'Donnell | 21-40 |
| 7 | Freshfields | 21-40 |
| 8 | Morgan, Lewis & Bockius | 21-40 |
| 9 | Davis Polk & Wardwell | 21-40 |
| 10 | White & Case | 11-20 |
| Rank | Firm | Band |
|---|---|---|
| 1 | Latham & Watkins | 401-700 |
| 2 | Kirkland & Ellis | 401-700 |
| 3 | Wilson Sonsini Goodrich & Rosati | 401-700 |
| 4 | Goodwin Procter | 251-400 |
| 5 | DLA Piper | 251-400 |
| 6 | CMS | 151-250 |
| 7 | Cooley | 151-250 |
| 8 | Gibson, Dunn & Crutcher | 151-250 |
| 9 | White & Case | 151-250 |
| 10 | Fenwick & West | 151-250 |
What this means for general counsel
Three points follow from the numbers. First, repeat business is the norm: at 2.4 deals per automotive client, against 1.8 across the practice, choose counsel you would hire again and price the relationship, not only the deal. Second, staff for capital markets as well as M&A: with capital markets lawyers on 31.5% of sector deals and corporate lawyers on 28.0%, a team without both will hand work across. Third, check German coverage: Frankfurt lawyers worked on 15.0% of the sector's deals with a known location. Sartori & Partners data, drawn from public law-firm announcements, firm websites and professional profiles, checked monthly, will show in the next edition whether the steady automotive count turns.
Questions readers ask
Which automotive M&A law firms handle the most sector deals?
Latham & Watkins ranks first by automotive deals on record over 12 months, in the 41-60 band. The list covers all sector work, disputes and capital markets included, not M&A alone. It and White & Case also sit in the corporate and M&A top 10.
How often do automotive companies return to their deal counsel?
Automotive clients averaged 2.4 deals each over 12 months, against 1.8 for corporate and M&A clients. Counts are matters on record, court filings included, so part of the repeat work is disputes.
What share of automotive deals involve corporate and M&A lawyers?
Corporate and M&A lawyers worked on 28.0% of automotive deals in the 12 months to October 2026, against 23.3% of all deals. Capital markets lawyers were on 31.5% of the sector's deals.
Is automotive deal work growing?
Not on this measure: the automotive deal count held flat (+2.8%) year on year, while the corporate and M&A deal count rose 9.5%. Sartori & Partners compare settled 12-month windows.
Where is automotive deal work done?
New York lawyers worked on 30.1% of automotive deals with a known lawyer location, then Frankfurt at 15.0%. One deal can count in several cities, so the shares are never added.
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Edition November 2026. Window: November 2025 to October 2026.
Edition November 2026. Window: November 2025 to October 2026. Source: Sartori & Partners, from public law-firm announcements, firm websites and professional profiles, checked monthly. Methodology. Spot an error? [email protected].
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