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CTV News
03-07-2025
- Automotive
- CTV News
June auto sales up from last year but show declining momentum: report
New cars, left, are parked at a car dealership on Friday, Oct. 11, 2024 in Quebec City. THE CANADIAN PRESS/Jacques Boissinot TORONTO — DesRosiers Automotive Consultants says June vehicle sales were up from a year earlier but still showed declining momentum. The consultancy says it estimates there were 178,000 light vehicle sales in the month, up 5.3 per cent from a weak June last year. It says however that sales for the month are still down notably from previous highs for the month, including volumes above 200,000 a month in 2017 and 2018. The June sales figure also projects to a seasonally adjusted annual rate of 1.81 million units, the lowest so far this year. DesRosiers managing partner Andrew King says in a statement that the sales total shows continued slowing momentum in recent months compared with a strong start to the year. The consultancy says economic concerns over a trade war with the U.S., along with rising unemployment and declining GDP, mean the market performance was about as good as could be expected. --- This report by The Canadian Press was first published July 3, 2025.
Russia Today
03-07-2025
- Automotive
- Russia Today
Car sales plunge in Russia
New car sales in Russia totaled 607,500 units in the first half of 2025, down 28% from a year earlier, the Ministry of Industry and Trade said on Wednesday. The sharp decline follows a surge in new car sales recorded last year. Sales of domestically produced vehicles totaled 333,300 units, an 11% decline from the same period last year. Passenger car sales fell 26% to 526,700 units, while light commercial vehicle (LCV) sales dropped 19% to 48,800 units. Truck and bus sales saw a steep decline of 54%, falling to 27,000 and 4,900 units, respectively. In June alone, new vehicle sales dropped 31% year-on-year to just under 101,000 units, making a 2% decrease compared to the previous month. Passenger car sales last month stood at 89,600 units, down 27% from a year earlier and 1% below May's total. LCV sales fell 32% year-on-year to 7,100 units, 7% lower than May. Truck sales dropped to 3,600 units, down 66% from June 2024 and 3% from the previous month. Bus sales were 663 units, down 58% and 6% year-on-year and month-on-month, respectively. Electric vehicle (EV) sales reached nearly 4,800 units in the first half of 2025, marking a 57% year-on-year decline. Locally produced EVs accounted for 23% of that total, up from 18% in the same period a year ago. In June, 44,700 imported vehicles were sold, a 45% year-on-year decline, while sales of Russian-made cars fell 12.5% to 56,200 units. Last year, Russia's new‑vehicle market experienced a sharp rebound, with year-over-year sales climbing around 39% to approximately 1.84 million units. It was fueled by a 47% surge in passenger car sales and strong gains in light commercial vehicles and buses. Domestic brands led the recovery, having recorded a 28% rise in sales. Earlier this week, Industry and Trade Minister Anton Alikhanov said the domestic auto industry had grown 35% year-on-year in 2024 due to government stimulus, but that rising interest rates and tightening auto loan conditions have driven a major market contraction over the past five months. The minister also said the government is planning to expand subsidies and support programs to prevent the market from falling more than 40%.
Yahoo
03-07-2025
- Automotive
- Yahoo
Digital Transformation Revolutionizes Luxury Car Buying Experience with Virtual Showrooms and AI Co-Pilots
The luxury car market is projected to reach $1.30 trillion by 2034, growing at a CAGR of 9.3%. Key players like Mercedes-Benz and BMW are accelerating electrification with high-performance EVs. Emerging markets in Asia-Pacific and the Middle East are set for significant growth, driven by rising wealth and consumer demand for premium vehicles. Advanced technologies, sustainability, and digital transformation are reshaping the market landscape. Luxury Car Market Dublin, July 03, 2025 (GLOBE NEWSWIRE) -- The "Luxury Car Market Outlook 2025-2034" has been added to offering. The luxury car market, valued at USD 584.7 billion in 2025, is projected to grow at a CAGR of 9.3%, reaching global sales of USD 1.30 trillion by 2034. This premium segment includes standout brands like Mercedes-Benz, BMW, Audi, and niche players like Rolls-Royce and Bentley, targeting high-net-worth individuals seeking status, performance, and comfort. The push for hybrid, electric, and digital-first experiences is transforming the landscape. In 2024, the market rebounded strongly, overcoming supply chain disruptions with pent-up demand, robust EV launches, and increased luxury spending. Automakers launched limited-edition models, electric variants, and tech-focused luxury sedans and SUVs. Innovations include AI-powered in-car assistants, autonomous features, and connected car ecosystems. China, the U.S., and the Middle East are key high-growth markets, bolstered by economic recovery and expanding affluent populations. Brands are leveraging digital showrooms, concierge services, and exclusive memberships to enhance customer engagement. Sustainability, including vegan interiors and net-zero factories, is now a crucial differentiator. Electrification is set to dominate the market by 2025, with premium brands aiming to become all-electric by decade's end. Innovation will focus on immersive in-cabin experiences, autonomous driving, and AI-driven customization. Emerging markets such as India, Vietnam, and Saudi Arabia are expected to record double-digit growth, driven by infrastructure improvements and aspirational purchases. Subscription-based luxury mobility, personalized financing models, and carbon-neutral product lines will redefine ownership and sustainability. Key insights reveal accelerating electrification, with high-performance EVs maintaining brand prestige. Advances in connectivity and autonomous features reshape user experiences, featuring digital dashboards, AI co-pilots, and predictive maintenance. Sustainability is paramount, with vegan leather, recycled materials, and carbon-neutral production on the rise. The digital transformation redefines the buyer journey through virtual showrooms, AR tools, and remote concierge services. Collaborations with luxury lifestyle and fashion brands are fostering co-branded vehicles that marry automotive and design excellence. Rising global wealth, particularly in Asia-Pacific and the Middle East, is spurring demand for premium vehicles. Innovations in safety, connectivity, and infotainment enhance brand differentiation and customer satisfaction. The geopolitical and economic landscape presents challenges, including luxury spending volatility, semiconductor shortages, material cost inflation, and EV infrastructure gaps, which may impact production and adoption timelines. However, government incentives for electric vehicles encourage luxury automakers' shift towards sustainable models. The market is segmented by vehicle type, class, propulsion, and geography, offering a comprehensive analysis to aid stakeholders in strategic planning. The competitive intelligence section covers company revenue, product analysis, and recent developments, helping clients stay ahead of the competition. Overall, the luxury car market offers lucrative opportunities driven by innovation, sustainability, and an evolving consumer landscape. With digital and electric transformations at the forefront, the industry is set for significant growth in the coming decade. Key Attributes: Report Attribute Details No. of Pages 150 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $584.7 Billion Forecasted Market Value (USD) by 2034 $1300 Billion Compound Annual Growth Rate 9.3% Regions Covered Global Companies Featured Volkswagen Group Toyota Motor Corporation Stellantis N.V. Mercedes-Benz Group AG Ford Motor Company BMW AG Honda Motor Co Ltd. Hyundai Motor Group Tesla Inc. Nissan Motor Co. LTD Audi AG Kia Corporation Renault Group Continental AG Tata Motors Limited Volvo Car Corporation Mazda Motor Corporation Subaru Corporation Jaguar Land Rover Automotive PLC Rolls-Royce plc Ferrari N.V. Aston Martin Lagonda Group Limited Acura Brilliance Auto Group Aiways For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Luxury Car Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
30-06-2025
- Automotive
- Zawya
Jordan: Cabinet overhauls vehicle import rules, slashes taxes, bans damaged car imports
AMMAN — In a sweeping reform aimed at 'enhancing road safety, protecting consumers, and improving the quality of vehicles,' the Cabinet on Saturday approved a comprehensive overhaul of the vehicle sector, including significant tax cuts and tighter import regulations. The decision, announced following a session on Saturday chaired by Prime Minister Jafar Hassan, introduces amendments to the 2025 Special Tax Bylaw, with immediate and long-term implications for car buyers, importers, and the wider automotive market. Under the new measures, the government will reduce the total tax burden, both general and special, on various types of vehicles. Taxes on gasoline-powered cars will drop from 71 per cent to 51 per cent, a reduction of 28 per cent, while hybrid vehicles will see taxes fall from 60 per cent to 39 per cent, marking a 35 per cent decrease. Under the new decision, the special tax on electric vehicles (EVs) has been unified at a flat rate of 27 per cent, regardless of the car's value or category. This replaces the previous system that had planned increases of up to 55 per cent over the next three years. Customs duties on scooters and motorcycles will be cut from 45 per cent to 33 per cent, a 26 per cent reduction. Tougher import standards and salvage ban The new decision also stipulates stricter regulations on vehicle imports to align with international safety and quality standards. Under the new regulations, all imported passenger cars, including gasoline, hybrid, and electric models, must now comply with one of the recognised technical regulations from Europe, the United States, the Gulf Cooperation Council (GCC), or Saudi Arabia. The new rules also prohibit the import of EVs that are more than three years old, including the year of customs clearance. Furthermore, vehicles classified as 'salvage' or 'junk', including those damaged by fire, flooding, or deemed unrepairable in their country of origin, will no longer be allowed into Jordan. The government says this is a key step towards improving vehicle quality and ensuring public safety. The new import regulations will take effect on November 1, 2025. After that date, no vehicles will be cleared unless they meet the updated compliance and safety standards. The Jordan Standards and Metrology Organisation previously announced that September 1, 2025, will be the final deadline for clearing EVs that had received past exemptions from conformity evaluation rules. This move is expected to nullify approximately 50,000 existing exemptions granted to non-compliant EVs in recent years. A Broader reform vision Ministers say that the measures are part of a broader structural and fiscal reform plan designed to modernise Jordan's vehicle market, reduce financial burdens on citizens, and promote long-term sustainability. 'This package addresses longstanding distortions in the sector, improves consumer access to safer and more affordable vehicles, and supports environmental goals through reduced emissions and congestion,' the government said in a statement. With this reform, the government aims to restore balance in the vehicle import system, improve regulatory oversight, and promote higher quality standards across the board, it said.
Yahoo
24-06-2025
- Automotive
- Yahoo
Q1 Earnings Highlights: Lithia (NYSE:LAD) Vs The Rest Of The Vehicle Retailer Stocks
As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at vehicle retailer stocks, starting with Lithia (NYSE:LAD). Buying a vehicle is a big decision and usually the second-largest purchase behind a home for many people, so retailers that sell new and used cars try to offer selection, convenience, and customer service to shoppers. While there is online competition, especially for research and discovery, the vehicle sales market is still very fragmented and localized given the magnitude of the purchase and the logistical costs associated with moving cars over long distances. At the end of the day, a large swath of the population relies on cars to get from point A to point B, and vehicle sellers are acutely aware of this need. The 4 vehicle retailer stocks we track reported a very strong Q1. As a group, revenues beat analysts' consensus estimates by 1.1%. Thankfully, share prices of the companies have been resilient as they are up 9.5% on average since the latest earnings results. With a strong presence in the Western US, Lithia Motors (NYSE:LAD) sells a wide range of vehicles, including new and used cars, trucks, SUVs, and luxury vehicles from various manufacturers. Lithia reported revenues of $9.18 billion, up 7.2% year on year. This print fell short of analysts' expectations by 2.1%. It was a mixed quarter with an impressive beat of analysts' EBITDA estimates but a miss of analysts' EPS estimates. "Our strong first quarter performance reflects the power of our integrated ecosystem and the disciplined execution of the Lithia & Driveway strategy by our teams," said Bryan DeBoer, President and CEO. Lithia pulled off the fastest revenue growth but had the weakest performance against analyst estimates of the whole group. The stock is up 13.2% since reporting and currently trades at $335.73. Is now the time to buy Lithia? Access our full analysis of the earnings results here, it's free. With a strong presence in the Southern and Central US, America's Car-Mart (NASDAQ:CRMT) sells used cars to budget-conscious consumers. America's Car-Mart reported revenues of $370.2 million, up 1.9% year on year, outperforming analysts' expectations by 7.8%. The business had an incredible quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. America's Car-Mart pulled off the biggest analyst estimates beat among its peers. The stock is down 10.5% since reporting. It currently trades at $51.69. Is now the time to buy America's Car-Mart? Access our full analysis of the earnings results here, it's free. Known for its transparent, customer-centric approach and wide selection of vehicles, Carmax (NYSE:KMX) is the largest automotive retailer in the United States. CarMax reported revenues of $7.55 billion, up 6.1% year on year, in line with analysts' expectations. Still, its results were good as it locked in an impressive beat of analysts' EBITDA estimates and a solid beat of analysts' gross margin estimates. Interestingly, the stock is up 4.6% since the results and currently trades at $67.28. Read our full analysis of CarMax's results here. Founded in 1966 as a single recreational vehicle (RV) dealership, Camping World (NYSE:CWH) still sells RVs along with boats and general merchandise for outdoor activities. Camping World reported revenues of $1.41 billion, up 3.6% year on year. This result missed analysts' expectations by 1%. Taking a step back, it was still a very strong quarter as it recorded a solid beat of analysts' EBITDA and EPS estimates. The stock is up 30.5% since reporting and currently trades at $18.40. Read our full, actionable report on Camping World here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
