John Gill Commentary Micah 5:10

"And it shall come to pass in that day, saith Jehovah, that I will cut off thy horses out of the midst of thee, and will destroy thy chariots:" — Micah 5:10 (ASV)

And it shall come to pass in that day, says the Lord: that I will cut off your horses out of the midst of you, and I will destroy your chariots; When the above things shall be accomplished, even in the Gospel day, made so by the rising of the sun of righteousness; the Gospel dispensation, the latter part of it. Which some take to be an apostrophe to literal Babylon, and to be fulfilled when Cyrus took possession of it; but rather it respects mystical Babylon, and the destruction of that by Christ.

But it is best of all to interpret it of the church of Christ, all whose carnal confidences and dependences shall be cut off, and shall trust alone in Christ for salvation; particularly the Jews now converted, who have been used to put their trust in the flesh, and in such things as are here mentioned; but now shall be made to see the folly and vanity of such things, and shall renounce and disclaim them; see (Hosea 14:3) ;

Or the sense is, there shall be no more war; horses and chariots shall be no more used in a hostile way; but there shall be perfect peace, all enemies being destroyed, which agrees with (Micah 2:3) (Zechariah 9:10) .

The Targum is, "I will cut off the horses of the people from the midst of you, and destroy their chariots?"