Continental is reportedly considering the sale of its recently established ContiTech auto division, specialising in belts and sealing systems, as part of a broader company-wide reorganisation. 

According to Reuters, the company has undertaken a series of moves to enhance profitability due to a significant drop in market capitalisation from EUR50bn to EUR13bn since 2018.

It announced a restructuring plan earlier this year which would involve consolidating ContiTech into three regional divisions (Europe, the Americas and Asia Pacific) as well as creating a separate unit focused on electromobility. 

Manager magazin said the tyre business and non-automotive section of ContiTech would remain core components.

The magazine also quoted an unnamed manager who warned of the potential for a rift in the workforce if the car business was continually funded by the tyres sector.