When Henry Ford invented the assembly line it transformed the car industry in the 20th century. Now, the rise of the Asian and Chinese car market is set to transform it again – and manufacturers and their banking advisers are positioning themselves for an uncertain future.

Last year will be remembered for the financial turbulence leading governments to prop up the auto sector. However, after a period of restructuring, sales are rising and the sector is returning to profitability, leading to the possible return of strategic dealmaking. This month, BMW reported a second-quarter profit of €1.29bn ($1.7bn) from €151m a year ago, echoing strong results by Daimler and Volkswagen.