ServiceNow's Moveworks Takeover Gets In-Depth Antitrust Review
The companies have received a so-called second request, which means the government is seeking additional information on the proposed takeover, according to people familiar with the matter who asked not to be identified because the matter isn't public. The firms will have to respond to the request from antitrust officials before the deal could move forward.
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Corning staves off antitrust fine as EU regulators accept concessions to mobile phone makers
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China drives global vehicle market up in June
For June, the Global Light Vehicle (LV) selling rate improved to 93 million units/year. In year-on-year (YoY) terms, the market grew over 2% as sales reached 7.7 million units globally. Trade tensions began to affect the key markets of the US and Western Europe, while in China, sales remain robust amid favorable market conditions and incentives. In Western Europe, the story is broadly unchanged as consumer confidence remains weak in the face of stagnant economic growth and political uncertainty. In the US, sales were down due to two fewer selling days as well as fewer OEMs offering pricing incentives due to tariffs. North America US vehicle sales fell by 4.3% YoY in June to 1.26 million units. There were two fewer selling days than in June 2024, so on a selling-day adjusted basis, sales increased by 3.6% YoY. However, YoY comparisons were somewhat distorted by the CDK cyberattacks in June 2024. The selling rate in June declined to 15.2 million units/year from 15.4 million units/year in May. The end of the month, also being the end of the quarter, saw slightly stronger sales than we expected, but, in general, the month was subdued as OEMs were not offering as many pricing incentives to reduce costs in the face of tariffs. According to initial estimates, the Canadian Light Vehicle market sold 174k units in June 2025, representing a 3.6% YoY increase. Ford and General Motors, both growing 9.7% YoY, were key drivers of this growth. The Canadian selling rate went up to 1.9 million units/year from 1.6 million/year in May. In Mexico, sales were estimated at 123k units, down -1.5% YoY. The selling rate stood at 1.58 million units/year. The Mexican market is expected to remain under pressure due to limited economic growth, although a better performance is anticipated in 2026. Europe The LV selling rate for Western Europe improved to 13.3 million units/year in June, though sales volumes were down nearly 7% as sales totaled 1.26 million units. The Western European LV market, especially the larger markets of France, Germany, and Italy, has struggled amid economic and political headwinds. Consumer confidence remains low as trade tensions between the US and the EU continue to escalate. In Eastern Europe, the LV selling rate for last month is estimated to be 4.3 million units/year, similar to the previous month. Sales were down 10% YoY. The Russian LV market declined by 29% YoY in June, with the selling rate falling to 1.13 million units/yr (-7.9% MoM). Demand remains weak due to the CBR's high key rate stalling consumer credit growth and auto financing; however, early signs of stabilization are emerging, aided by resumed output at idled plants and government stimulus through the 'First Car' and 'Family Car' subsidy programs. A potential interest rate cut may support a modest recovery in H2. The Turkish PV market saw a fourth consecutive month of growth in June 2025 as sales reached 94k units, up 7% YoY as EV incentives, an influx of Chinese models, and high inflation continue to boost sales. China In China, LV sales increased YoY by 12.6% in June 2025 to 2.3 million units, leaving the selling rate just above 30 million units/year for the first time since June 2022. The PV segment posted most of the gains, up 13.4% YoY in raw terms, with the wholesale measure reaching a record high for the month of June. With the economic uncertainty easing, pent-up demand is beginning to boost aggregate consumer spending and thereby helping LV sales. Chinese domestic brands also continue to perform well, within and outside the country. Automakers in China have continued to employ an aggressive pricing strategy, which is putting a strain on businesses across the auto sector. Further incentives and free upgrades are also being used to effectively increase value at the same prices to engage in the war without lowering the base price of vehicles. The price war could begin easing, though, as the Chinese government has expressed its concerns over the health of the sector. However, concerns are growing elsewhere as Chinese OEMs could use similar price competition to gain market share internationally. Other Asia In Japan, LV sales increased YoY by 5.8% in June 2025. After the double-digit increase in the first four months of 2025, the rate has been milder since May. The sharp increase at the beginning of the year can be attributed to the low-base comparison to the sales a year ago. However, in March, sales struggled once again due to vehicle supply issues (because of an accident at a plant that is a major supplier to Toyota/Daihatsu/Suzuki). With the recent results being underwhelming, the outlook for Japan is somewhat more limited this year. Korea's LV market growth improved to 6% YoY in June as strong delivery of local models (+7% YoY) led overall market recovery. Hyundai and Kia reported solid domestic sales as a series of new model launches propped up their topline sales growth in Korea. Overall PV (+7% YoY) sales recovery was a key driver of market recovery in June. LCV sales (-3% YoY) have also been stabilizing, despite the negative YoY result, with momentum shifting thanks to new pickup truck launches. South America Brazilian Light Vehicle sales reached 202k units in June according to preliminary estimates, representing a minor 0.2% YoY decrease. The selling rate also decreased slightly to 2.50 million units/year in June, from 2.55 million units/year in May. After an exceptionally robust May, June may have experienced some payback. Hybrid and electric vehicles accounted for nearly 11% of total sales in June, another record high. Sales in Argentina once again showed strong growth, as new government policies reducing taxes on many vehicles and fewer import restrictions are clearly helping the market. Sales likely totalled 50k units in June, up by 69% YoY. With the selling rate remaining strong at 593k units/year, this is the sixth consecutive month above 500k units/year. This article was first published on GlobalData's dedicated research platform, the . "China drives global vehicle market up in June – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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