Automotive sector mergers and acquisitions activity dropped by 60% in deal value last year, according to a study by PricewaterhouseCoopers.

Philip Wylie, corporate finance director at PwC, said that he does not expect activity to pick up much soon. &quotI think the first half of this year will be pretty slow and I expect M&A activity to increase a bit towards the end of the year. We are seeing reasonable opportunities at the moment, but the issue is finding buyers.&quot