Latest news with #autosales
Reuters
19-07-2025
- Automotive
- Reuters
China plans to ban new cars from being resold within six months after registration
SHANGHAI, July 19 (Reuters) - China's industry ministry is planning to ban the resale of new cars within six months after their registration, an industry association publication said on Saturday, in an attempt to address sales of zero-mileage used cars. Auto Review, a publication run by the China Association of Automobile Manufacturers, reported the move in an editorial published on its WeChat account. It said that the China Automobile Dealers Association, another industry group, had separately proposed a code system for exports of used cars. The editorial added that Chery and BYD ( opens new tab, , were among the companies that were planning to hold dealers accountable for violations, including licensing cars before they are sold.
Yahoo
16-07-2025
- Automotive
- Yahoo
Wolters Kluwer Announces Second Quarter Data for Its Auto Finance Digital Transformation Index
Q2 digital contracting growth mirrored accelerated auto sales activity; Auto securitizations saw a decline following auto ABS losses NEW YORK, July 16, 2025--(BUSINESS WIRE)--Adoption of digitized contracting and documentation workflows by auto retailers and their lending partners that foster back-office efficiencies saw a continued upward trend that mirrored auto sales activity, according to analysis by Wolters Kluwer Compliance Solutions from its Q2 Auto Finance Digital Transformation Index. "The Q2 2025 Auto Finance Digital Transformation Index clearly underscores the imperative for digital workflow adoption in the auto industry," said Matthew Babcock, Digital Lending Product Strategy for Wolters Kluwer. "From significant operational efficiencies to enhanced customer experiences to faster transactions and reduced paperwork, digitization is providing the strategic advantages that are foundational to the future success and resilience of auto finance." Key Findings from the Q2 2025 Index: eContracting (Auto): Digital contracting in auto finance continues its upward trajectory, underscoring the industry's ongoing commitment to streamlined, paperless workflows. Quarter-over-Quarter Growth: eContracting volume increased by 7.07% from Q1 2025 to Q2 2025. Year-over-Year Growth: A notable 9.26% increase was observed from Q2 2024 to Q2 2025. Four-Year Trend Positive: The long-term trend highlights substantial digital adoption, with a remarkable 116.26% growth in eContracting dating back to Q2 2021. This consistent growth in eContracting during the second quarter aligns with the overall U.S. auto sales activity, which saw the forecasted new-vehicle sales pace in June finish near 15.3 million, up from 15.0 million in June 2024, as reported by Cox Automotive. Securitizations (Auto): Digital auto securitization activity also mirrored broader auto ABS trends and experienced a noticeable downturn in Q2 2025, though the longer-term view still indicates overall growth. Quarter-over-Quarter Decrease: Digital auto securitizations decreased by 46.21% from Q1 2025 to Q2 2025. Year-over-Year Decrease: A more substantial 55.26% decline was recorded from Q2 2024 to Q2 2025. Four-Year Trend: Despite recent quarterly declines, the four-year trend shows an overall increase of 22.91% since Q2 2021, indicating that the market has grown considerably over this period, even with recent fluctuations. Amid months of market uncertainty, auto ABS issuance dropped 37.2% YoY to $9.8 billion in May, according to JPMorgan Securities data. Year to date through May 16, prime loan issuance fell 14.4% YoY to $31.5 billion, while nonprime loan issuance rose 6.7% YoY to $17.4 billion, according to JPMorgan. Total issuance landed at $68.3 billion YTD, down 12.8% YoY. Wolters Kluwer Compliance Solutions, which sits within the Wolters Kluwer Financial & Corporate Compliance (FCC) division, is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms. About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit follow us on LinkedIn, Facebook, YouTube and Instagram. View source version on Contacts Media Contact David FeiderAssociate Director, External CommunicationsFinancial & Corporate ComplianceWolters KluwerOffice +1 Sign in to access your portfolio
National Post
10-07-2025
- Automotive
- National Post
VinFast Highlights the Shift from Product-Led to Customer-Led Sales
Article content MARKHAM, Ontario — As the global auto industry shifts from product-led to customer-led sales, VinFast's approach in Canada highlights how service, trust, and long-term support are becoming key drivers in how people choose and buy cars. Business success is evolving. Companies no longer win simply by making great products. They win by creating great experiences. This shift is happening everywhere, from tech startups to century-old manufacturers. The auto industry is feeling this pressure as well. One unexpected example shows how powerful this change can be: VinFast in Canada is proving that putting customers first can transform how people think about buying cars. Article content The Global Pivot Toward Customer-Centricity Article content Traditional product-focused strategies are no longer enough. Companies that only emphasize features and specifications miss what customers truly want. Today's buyers expect companies to listen to their feedback and respond quickly. Article content A 2019 Economist Intelligence Unit study found that 81 percent of senior executives felt increasing pressure to become customer-focused, while 75 percent anticipated major organizational change in that direction in the coming years 1. Article content This approach has a name: customer-led growth. The goal now is to build relationships that last for years. Companies that embrace this are pulling ahead of their competition. Those that don't are being left behind. Article content This shift is especially true in the auto industry. Think about it. Buying a car is one of the biggest purchases in life. It's an emotional decision. People keep cars for years, sometimes decades. So it's only natural that they need to trust the company they're buying from. Article content Today's customers expect transparency in pricing. No hidden fees or surprise charges. They want seamless experiences whether shopping online or visiting a showroom. Most importantly, they want support that lasts long after they drive off the lot. They want companies that will be there when something goes wrong. They want warranties that matter and service that truly helps. Buyers also expect access to support at any hour and often compare service reviews before choosing a brand. Article content In essence, it's safe to say the customers don't want to feel like they're being sold to instead of cared for, nor do they want the relationship to end once the paperwork is signed. Article content VinFast in Canada: Bringing Customer-Centricity to Life Article content For the last two years, VinFast, Vietnam's leading EV manufacturer, has steadily established its presence in the Canadian market, not through flashy promotions, but by focusing on customer care. Yes, they're in the business of selling electric vehicles, but they're betting even more on exceptional service. Their approach shows what happens when you truly put customers first. Article content Their first offering in the market, the all-wheel-drive VinFast VF 8, is priced at the lower end of mid-size electric models to make EVs more affordable for a wider range of customers. The warranty is industry-leading: ten years or 200,000 kilometers, with unlimited kilometers on the battery under normal usage. Most companies offer warranties because they have to; VinFast offers one because they want to demonstrate accountability for their product over the long term. Article content 'Yes, that helped a lot,' said Benoit Naud, a VF 8 owner in Quebec. The warranty gave him the confidence to try a new brand. Article content The support goes beyond that. Customers have access to 24/7 service via the VinFast hotline. 'I've never seen this kind of service from any other company,' said Naud, whose experience led him to rate VinFast's hotline service 10 out of 10. 'I'm always ready to recommend the VF 8.' Article content VinFast also offers access to the most comprehensive hub for public charging services in North America. The VinFast app provides more public charging options than any other OEM or third-party app. This makes it easier for drivers to find charging stations. They understand that range anxiety is the biggest concern for new EV buyers. Article content This is not just good customer service. It is customer-led thinking in action. Article content The Road Ahead Article content The future of mobility will be electric, with empathy at its core. VinFast's approach in Canada proves that even young brands can earn loyalty by listening carefully and responding swiftly. They show that in a world where products are becoming more similar, how you treat customers may be your strongest advantage. Article content Article content Article content Article content Article content Article content
Yahoo
09-07-2025
- Automotive
- Yahoo
Achtung! Germany's Mercedes, Porsche stung by Trump's auto tariffs
German luxury stalwarts Mercedes-Benz (MBGAF) and Porsche ( usually count on the US for a sizable portion of their sales — approximately 25% for both automakers. But those days could be over, at least for the time being. Earlier this week, Mercedes reported second quarter global car sales fell 9% to 453,700 units, with US sales down 12% compared to a year ago. "Deliveries to dealerships were carefully calibrated to navigate new global tariff policies, impacting sales of Mercedes-Benz Cars in the U.S. and China in particular," Mercedes said in a statement. The Trump administration implemented 25% auto sector tariffs on all imports starting in early April. Interestingly, sales in Germany and Europe at large climbed 7% and 1%, respectively, with "rest of world," encompassing regions like the Middle East, Africa, and South America, jumping 24%. The company's crosstown Stuttgart rival, Porsche, also reported sliding sales, with global deliveries down 6% to 146,391 units. Porsche noted that US sales actually climbed 10% in the quarter, but there was a big caveat: "The increase is mainly due to higher product availability in the market and the price protection offered in the first half of the year due to increased import tariffs," Porsche said in a statement. Essentially, Porsche is admitting that it relied on pre-tariff inventory to boost sales and subsequently ate into its profit margins by price-protecting its customers — at least for now. Read more: How to find the best luxury car insurance Porsche is in a uniquely troubling situation as its production is all done in Germany and EU countries like Slovenia. Mercedes's exposure is not as acute, as the automaker has a major factory in Tuscaloosa, Ala., where the automaker makes its SUVs and some EVs. As for Porsche, company CEO Oliver Blume (who is also CEO of Volkswagen Group) said Porsche will likely pass tariff costs on to its customers, but he did not say when. Mercedes said this spring that it would price-protect and absorb "some" tariff costs for 2025 models, at least for now. One way automakers can maintain current pricing but pass on tariff costs to buyers is by, for example, eliminating certain incentives. Spokespeople for Mercedes and Porsche did not immediately respond when reached for comment on US pricing. Germany's auto sector represents a big portion of the country's economy, and Germany as a whole is one of the key cogs in the EU's total industrial production. That's why the EU is feverishly negotiating with US negotiators to strike a deal. Politico reported that the US offered the EU a 10% tariff deal — similar to the one struck with the UK — though major caveats remain. Time is of the essence for the EU to strike a deal for the German luxury brands because pre-tariff inventory is likely exhausted, and eating into shrinking profit margins can only last so long. And it's not just Germany's luxury names that are suffering — its biggest automaker is hurting too. Germany's Volkswagen, the world's No. 2 automaker by volume, also reported global sales climbed 1.2% in Q2 but dropped 29% in the US compared to a year ago. Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
Malay Mail
03-07-2025
- Automotive
- Malay Mail
Tesla sales fall again but beat worst forecasts as Musk-Trump feud clouds outlook
NEW YORK, July 3 — Tesla reported another hefty drop in auto sales Wednesday, extending a difficult period amid intensifying electric vehicle competition and backlash over CEO Elon Musk's political activities. The EV maker reported 384,122 deliveries in the second quarter, down 13.5 per cent from the year-ago period. Shares rallied after the disclosure, which was better than some leading forecasts in recent days. The sales figures, which are global, reflect the more contested nature of the EV market, which Tesla once dominated, but which now also features BYD and other low-cost Chinese companies, as well as legacy western automakers like General Motors, Toyota and Volkswagen. But Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales. In recent days, Musk has revived a feud with US President Donald Trump, dragging Tesla shares lower on Tuesday. The figures portend another poor round of earnings when Tesla reports results on July 23. Analysts currently project a drop of 16 per cent to US$1.2 billion (RM5.07 billion) in profits, according to S&P Capital IQ. Tesla has faced questions about a lack of new retail auto products to wow consumers after Musk's futuristic Cybertruck proved polarising. Analysts will be looking for an update on the state of new offerings after Tesla said in April that it planned 'more affordable models' in the first half of 2025. The company has begun deliveries of its revamped Model Y in some markets, according to news reports. Tesla launched a long-discussed robotaxi venture in the Texas state capital Austin, lending momentum to Musk's branding of the company as at the forefront of autonomous and artificial intelligence technology. But reports that the self-driving cars have driven recklessly have prompted oversight from US regulators. Heading into Wednesday's data release, notes from JPMorgan Chase and Deutsche Bank had forecast bigger drops in second-quarter deliveries, citing poor figures in Europe in particular. The JPMorgan note was especially bearish, setting a December share price target of US$115, down more than 60 per cent from current levels and citing an expected drag from the elimination of US tax credits for EVs under Trump's signature domestic policy legislation moving through Congress. Following the results, Morningstar said in a note that Tesla would not see 'meaningful deliveries growth without a new lower-cost vehicle aimed at the affordable market.' For the second quarter in a row, Tesla produced more vehicles than it delivered, 'raising concerns regarding demand and inventory levels,' said a note from CFRA Research that called the figures 'a modest disappointment.' But Wedbush's Dan Ives said Wednesday's 'better-than-feared' report set the stage for growth. 'If Musk continues to lead and remain in the driver's seat, we believe Tesla is on a path to an accelerated growth path over the coming years with deliveries expected to ramp in the back-half of 2025 following the Model Y refresh cycle,' Ives said. Political wildcard A wildcard remains: how Musk's shifting relationship with Trump could affect Tesla. Musk donated more than US$270 million to Trump's presidential campaign, barnstorming key battleground states for the Republican. After the election, he oversaw the launch of the Department of Government Efficiency, a controversial initiative that eliminated thousands of government jobs deemed by DOGE to be part of a pattern of waste, fraud and abuse. But Musk has broken with Trump over the White House's flagship tax and spending bill, which Musk has called 'utterly insane and destructive.' In response, Trump has threatened to target Musk's business empire and warned of deporting the South African-born billionaire, sending Tesla shares plummeting. 'This high-profile feud introduces political risk,' said in a note Tuesday. 'The personal nature of the conflict, amplified by Trump's comments implying Tesla's reliance on subsidies for survival, has sparked fears of broader policy shifts targeting Musk's business empire.' Tesla shares rose 4.7 per cent early Wednesday. — AFP
