Latest news with #localmarket
Yahoo
6 days ago
- Automotive
- Yahoo
Russia's biggest carmaker is eyeing a 4-day workweek because sales are doing so poorly
Avtovaz, the maker of the Lada, is thinking of switching to a four-day workweek amid poor sales. It accused foreign car firms of "price dumping," and projected earlier that 2025 sales would fall 25%. But Russians are also buying fewer cars overall, down 27.6% in June year-on-year. Avtovaz, the firm that manufactures Russia's best-selling car brand, said on Tuesday that it may shift to a four-day workweek amid forecasts of plummeting sales for this year. The state-owned automaker told Russian state media it was fighting multiple headwinds, including Chinese car brands surging into the local market. So it's considering introducing the downsized workweek in the fall, starting on September 29. "At the same time, the company emphasizes that the final decision on the introduction of a partial four-day workweek will be made based on the results of an analysis of market trends and economic factors, including the level of the key rate and the availability of credit products," Avtovaz said in a statement to Russian media. The firm makes the Lada, the Soviet Union's most widely produced family of cars, and a symbol of Russia's Cold War era. The Lada continues to be the most common car in the country. Avtovaz has previously reduced factory work days. It last introduced a temporary four-day workweek for three months in 2022, as the onset of the Ukraine war prompted foreign industries to leave Russia. Now, it's telling state media that its sales were hit hard by tightening car loan rules and high interest rates — debt-averse measures that Moscow imposed amid the West's sanctions. China's cars hit Lada hard But this time, the company also blamed the heavy import of foreign cars in 2024. With almost all international car brands ceasing official sales in Russia after the Ukraine war began, foreign sales there are dominated by Chinese automakers. Chinese car brands sold over 1 million vehicles in Russia in 2024, a sevenfold increase from the previous year. In its statement, Avtovaz accused imported brands of "pursuing a policy of price dumping," saying that these rivals' warehouses hold over 400,000 unsold cars. And the Russian carmaker thinks its revenues will continue to suffer. Avotvaz said last month that it expected its car sales to drop 25% to 1.1 million vehicles in 2025 compared to last year. That's amid an overall drop in car sales across Russia. The local auto analysis firm Autostat said on July 4 that 90,116 new passenger cars were sold in June, down 27.6% from the same month last year. Despite its challenges, Avtovaz holds the largest share in the domestic market, selling just over a quarter of those cars in June. Avtovaz and Solaris, a new local car company that operates an old Hyundai plant in St. Petersburg, are the only two Russian companies in the country's top 10 passenger car firms by sales. Another seven of the top 10 are Chinese firms, while one is Belarusian. Read the original article on Business Insider
Zawya
10-07-2025
- Business
- Zawya
A high-tech coffee culture is brewing in the South African market
Technological advancement is becoming a core ingredient in the evolution of the South African Coffee market, as artificial intelligence (AI), automation, and smart brewing systems redefine the way consumers interact with their coffee. From predictive espresso machines to AI-powered digital assistants, innovation is fuelling a new era of personalisation, precision, and performance across both home and retail coffee consumption. Insight Survey's latest South African Coffee Industry Landscape Report 2025 carefully uncovers the global and local coffee market, based on the latest intelligence and research. It describes the latest global and local market trends, innovation and technology, drivers, and challenges, to present an objective insight into the South African coffee industry environment and its future. In 2025, the global coffee market is expected to reach an estimated value of approximately US$473.2bn. Furthermore, the market is forecast to increase at a compound annual growth rate (CAGR) of 4.7%, to reach a value of approximately US$595.4bn by 2030, as illustrated in the graph below. Source: Statista | Graphics by Insight Survey Locally, the South African coffee market experienced very strong growth in terms of off-trade retail value, at current prices, achieving a significant increase of 15.0% year-on-year, relative to 2023. This growth is expected to continue, with the market forecast to expand at a CAGR of 11.7% between 2025 and 2029. As a driving force, technology is increasingly shaping the global coffee landscape, with leading brands investing in high-tech product innovation to improve quality, sustainability, and personalisation. For example, Lavazza recently launched its Tablì system, the world's first capsule made entirely from compressed coffee grounds. This capsule is used with a specially designed coffee machine that introduces a new way of brewing by using only coffee-based materials, removing the need for plastic or aluminium. Similarly, Swiss brand Jura introduced the J10, a smart bean-to-cup coffee machine capable of preparing up to 42 hot and cold drinks. It includes features like syrup infusion, automated grind-size control, and the ability to customise brewing speed for improved flavour. Moreover, new AI-driven machines such as Nunc are pushing the boundaries of at-home coffee brewing. These systems use artificial intelligence to analyse brewing variables in real time, predict the taste of the final cup, and offer instant feedback, allowing users to fine-tune their coffee based on personal preferences with unprecedented precision. This global momentum has also made its way to the South African market, where local players are increasingly leveraging technology to meet consumer demand for smarter, more customised coffee solutions. In September 2024, Kauai unveiled its AI-powered coffee assistant, KAUA.I, alongside a new ethically sourced signature blend. The platform allows consumers to personalise their coffee orders via Kauai's app and website, while in-store enhancements included the rollout of certified baristas, advanced machines, and sustainability-focused design features. In the home brewing space, La Marzocco South Africa, in partnership with Acaia, introduced brew-by-weight technology in its Linea Mini model. This innovation utilises machine learning and predictive drip algorithms to automate coffee dosing with barista-grade consistency, enabling consumers to brew with precision that was once only available in professional settings. Meanwhile, Mastertons celebrated its 100-year milestone by embracing product innovation. The brand released aluminium coffee capsules in 100-pack formats compatible with Nespresso® machines, aligning with international capsule trends and sustainability goals. It also launched the Beyond Coffee Range, offering products like Rooibos Espresso and the Coffee Freez-OH, a reflection of how heritage brands are adapting through innovation. Additionally, Bootlegger Coffee Company also enhanced its offering with two new capsule variants, a Decaf capsule sourced from Colombia, and a Single Origin Guatemalan blend. Both capsules are made from compostable materials, combining environmental responsibility with premium flavour. These new lines align with the growing demand for higher-end, tech-enabled coffee experiences at home. In the retail space, global chain Pret A Manger entered the South African market in early 2025, bringing with it a barista-prepared, organic coffee menu underpinned by globally integrated systems and high-quality machinery. This entry marks a further move toward premium, tech-supported coffee experiences across local cafés and fast-casual settings. The South African Coffee Industry Landscape Report 2025 (160 pages) provides a dynamic synthesis of industry research, examining the local and global coffee industry from a uniquely holistic perspective, with detailed insights into the entire value chain – market sizes and forecasts, industry trends, latest innovation and technology, key drivers and challenges, as well as a manufacturer and distributor overview, retail, and pricing analysis. Some key questions the report will help you to answer: - What are the current market dynamics (production, consumption, trade, pricing) of the global and South African coffee industry? - What are the latest global and South African coffee industry trends, innovation and technology, drivers, and challenges? - What are the South African coffee market size value and volume trends (2019–2024) and forecasts (2025–2029), as well as channel distribution? - Which are the key manufacturers, distributors, roasters, and retail players in the South African coffee industry? - What is the latest company news for key players in terms of products, new launches, and marketing initiatives? - What are the prices of popular coffee brands and products (instant, ground, beans, capsules, and ready-to-drink) across South African retail outlets? For more details and to view the report brochure: South African coffee Industry Landscape Brochure 2025. For more information, please email info@ call our Cape Town office on (021) 045-0202, or Johannesburg office on (010) 140- 5756. About Insight Survey: Insight Survey is a South African B2B market research company with more than 15 years of heritage, focusing on business-to-business (B2B) and industry research to ensure smarter, more-profitable business decisions are made with reduced investment risk. We offer market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal or external environment. Our bespoke Competitive Business Intelligence Research can help give you the edge in a global marketplace, empowering your business to overcome industry challenges quickly and effectively, and enabling you to realise your potential and achieve your vision. From strategic overviews of your business's competitive environment through to specific competitor profiles, our customised Competitive Intelligence Research is designed to meet your unique needs.
Associated Press
24-06-2025
- Business
- Associated Press
Rentby Officially Launches in Texas and Oklahoma - Accelerating Hassle-Free Renting Across the Heartland
Rentby launches in TX & OK, offering a hassle-free, community-driven rental marketplace with verified listings and local support. NORMAN, OK, UNITED STATES, June 24, 2025 / / -- Rentby, the local rental marketplace offering a user-friendly and secure platform for rental transactions, is thrilled to announce its official launch in Texas and Oklahoma. This significant milestone marks a key phase in Rentby's strategic rollout across the United States, establishing its rental experience for both renters and lenders in the region. With this launch, residents of Texas and Oklahoma now have instant access to Rentby's unique rental marketplace, which features local listings, a user-friendly experience, verified users and listings, and exceptional customer service designed to empower the community in making confident rental decisions. 'The launch into Texas and Oklahoma marks our dedication to the local markets that we live and work in. Providing a reliable platform that simplifies the rental experience without the burden of ownership is something that we've envisaged for a long time,' said a spokesperson for Rentby. 'By connecting renters and lenders seamlessly, we are building a community of shared resources built on trust, security, and innovation.' This launch is just the beginning. Rentby is excited to continue its expansion with upcoming launches in Wyoming, Montana, Kansas, and Arkansas planned over the next few months. Additional states will be added throughout 2025 as part of Rentby's mission to be recognized nationwide as a premier rental solution. As Rentby continues to grow, it remains committed to its core values of Accessibility, Trust, and Community. The app not only simplifies the rental process but also promotes a sense of community through reliable and supportive customer services, such as listing support and dedicated business services for rental operators. Rentby is transforming the rental landscape by providing an Airbnb-style marketplace that emphasizes ease, security, and mutual benefit. For more information about Rentby or to begin your rental journey, visit today. Rentby Press Team Rentby [email protected] Visit us on social media: Instagram Facebook X LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
17-06-2025
- Business
- Yahoo
How to negotiate a lower price when buying a house
When buying a home, negotiating the price of a house may feel taboo or outright uncomfortable. However, it's a common practice often expected by the seller. When prepared with the right strategies, you can walk into discussions confident and prepared. Here are helpful tips to help you negotiate the asking price and more as a buyer. Read more: Why are home prices so high? This embedded content is not available in your region. In this article: What to do before negotiating How to negotiate a house price How much can buyers negotiate? When to walk away FAQs A successful negotiation starts well before making your first offer on the house. 'Before a buyer even thinks about negotiating, get a preapproval letter and a crystal clear idea of the home's actual value,' Adriana Trigg, licensed Realtor and owner of Legionary Real Estate Investing, said via email. 'Don't just take what the home is listed for, but also understand what it's worth based on recent comparable sales and local market trends.' Apply for preapproval with multiple mortgage lenders for an estimate of your loan amount and mortgage rate based on verified income, creditworthiness, and other financials. You can then work with a real estate agent or use websites like or to research your local housing market and get an idea of how much the home is worth. There isn't just one way to negotiate a home's price, and certain situations call for different strategies. However, these tips may increase your chances of success. The best real estate agents are experts in the local market and the home-buying process. While every buyer should be as knowledgeable and prepared as possible, you can also lean on your agent to ensure you're not overpaying or overlooking critical details during negotiations. Find a real estate agent through referrals or a local online search. Verify the agent's license through your state's real estate regulatory agency. While a home inspection is not always required, it can be critical when negotiating the house price. An inspector can highlight anything from minor inconveniences to major foundation problems. 'One of my favorite strategies is to point out issues from the inspection report in a calm, fact-based way,' said Trigg. 'You're not insulting the home — you're pricing in the real cost of repairs.' Make a list of the significant issues, especially those that impact the property's value or your safety. You can use the inspection report to ask the seller to pay for repairs or come down on the asking price to cover the cost. You can also include an inspection contingency in your offer, which lets you walk away if the inspection reveals major damage to the home without losing your earnest money deposit. Repairs aren't the only costs a seller may be willing to cover. You can ask them to pay some of the closing costs, such as origination or appraisal fees. Other seller concessions worth exploring include prepaid property taxes, a home warranty, and even discount points to lower your interest rate. There's a limit to how much a seller can cover, and it varies by loan type. FHA loans: 6% limit on seller concessions USDA loans: 6% limit VA loans: 4% limit Conventional loans: 6% limit on loans with down payments between 10% and 25%; loans with less than 10% down have a 3% limit Ask for seller concession with discretion. Asking for too many can backfire, especially in a seller's market. Some sellers are willing to strike deals on certain fixtures or furniture used during staging. You can also use the time to close as a negotiation tactic. 'Another smart move is to offer a faster close,' said Trigg. 'A seller who's relocating or juggling multiple properties might take a slightly lower price if it means fewer headaches.' A seller's asking price can depend on many factors, such as the local housing market, the property's condition, and the length of time it has been for sale. For example, asking for 20% below the price is generally considered a lowball offer, but it may be appropriate for a home that needs a lot of work. A buyer looking at a home in good condition should probably ask for no more than 10% below the asking price, but be prepared for a counteroffer in a super-competitive housing market. You can start with a reasonable offer that's below the asking price, but not so low that the seller doesn't take you seriously. This is where having information on comparable sales and the property's condition can help — plus the help of a good real estate agent. Dig deeper: How much should you offer on a house? Negotiating the home price takes patience, compromise, and knowing when to move on. If the seller refuses to budge or you find yourself in a bidding war, take a step back to really think about whether you can afford the home. Try to avoid increasing your offer so much that you deplete your savings or struggle to make the monthly mortgage payment. When you walk away, make sure you know the potential legal ramifications. You can opt to include certain real estate contingencies in which your offer depends on the outcome of the appraisal or inspection report. If you back out of an offer for a reason not covered by contingencies, you could still end up owing money. How much a seller will lower the asking price depends on the market, the property's condition, and other factors. In a highly competitive market with more buyers than sellers, known as a seller's market, a seller doesn't have much incentive to come down on the price. On the other hand, if you're in a buyer's market with more homes than buyers, you typically have more leverage to ask for a lower price, within reason. You can tactfully negotiate the price on a house by making sure your offer is reasonable. Base your offer on similar homes that sold recently in the area. When you ask for a lower price, justify it, like with the inspection or appraisal report. Share how the ask can help you both, like speeding up the time to close. Offering 20% below the asking price may be acceptable if the home needs major repairs. Make sure your offer is justified. However, in highly competitive markets where the seller has multiple offers, you may have a hard time lowering the price even if the home needs significant work. Laura Grace Tarpley edited this article.
Associated Press
16-06-2025
- Associated Press
Death toll from an attack by gunmen in north-central Nigeria reaches 150, survivors say
DAKAR, Senegal (AP) — The death toll from an attack by gunmen in north-central Nigeria over the weekend has climbed to 150, survivors said Monday. Villagers were still digging through burned structures, counting their dead and looking for the dozens still missing. The previous death toll stood at 100. Assailants stormed Benue state's Yelewata community late on Friday night, opening fire on villagers who were asleep and setting their homes ablaze, survivors and the local farmers union said. Many of those killed were sheltering in a local market after fleeing violence in other parts of the state. No one immediately claimed responsibility for the killings, but such attacks are common in Nigeria's northern region where local herders and farmers often clash over limited access to land and water. The farmers accuse the herders, mostly of Fulani origin, of grazing their livestock on their farms and destroying their produce. The herders insist that the lands are grazing routes that were first backed by law in 1965, five years after the country gained its independence.
