Mattel announced a fresh Hot Wheels lineup at the New York Toy Fair, unveiling a slate of new Formula 1‑themed cars, expanded play experiences, and the most ambitious Hot Wheels Ultimate Garage yet.
The launch follows Hot Wheels’ eighth consecutive year of growth, underscoring the brand’s continued strength across core segments and its role as a key driver of Mattel’s overall performance.
Senior vice president and Global Head of Vehicles Ted Wu said, "Hot Wheels is on fire. We continue to see growth across the entire franchise, driven by authentic storytelling and experiences, world‑class toy product and holistic franchise offerings. Our 2026 line‑up will continue the momentum, from new F1 products and expanded experiences to the most epic Hot Wheels Ultimate Garage we've ever created. We can't wait for our fans of all ages to experience the exciting year ahead."
The announcement comes amid a broader financial backdrop: Mattel’s Q4 2025 earnings missed consensus estimates, and the company’s 2026 guidance for adjusted EPS of $1.18 to $1.30 falls well below analyst expectations of $1.75. Adjusted gross margin contracted 480 basis points to 46% in Q4, driven by higher discounting and inflationary pressures, while the holiday season remained flat and Barbie sales slowed.
Investors reacted negatively, citing the earnings miss, weak guidance, margin compression, slower Barbie sales, a flat holiday season, and strategic investments in digital gaming that are expected to impact short‑term profitability.
Despite these headwinds, the new product lineup signals Mattel’s commitment to innovation and fan engagement, positioning Hot Wheels to sustain growth and support the company’s broader portfolio.
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