Latest news with #newmodels
Yahoo
2 days ago
- Automotive
- Yahoo
South Korea vehicle imports rise 23% in July
Sales of imported light passenger vehicles in South Korea continued to accelerate in July 2025, with deliveries surging by over 23% to 27,090 units from 21,977 units a year earlier, according to registration data released by the Korea Automobile Importers & Distributors Association (KAIDA). The association attributed the market's strong performance in the last few months to improved availability of new models, following inventory shortages earlier in the year. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service The Insurance Savings You Expect Affordable Auto Insurance, Customized for You In the first seven months of 2025, imported vehicle sales increased by 12% to 165,210 units, from 147,629 units a year earlier, driven by new models – particularly battery electric vehicles (BEVs) and hybrids. Overall demand for new vehicles in South Korea remains sluggish, however, reflecting weak domestic economic growth and high consumer debt. Domestic sales of vehicles produced by the five main local manufacturers increased by just 2.5% to 799,353 units in the seven-month period, underpinned mainly by new models from Hyundai and Kia. German-owned brands accounted for 62% of total import sales year-to-date, with almost 103,000 units combined, led by BMW with an 8% rise to 44,770 units, while its Mini subsidiary saw its sales decline by 16% to 4,142 units. Together, the two brands accounted for almost 30% of total import sales. Mercedes-Benz saw its sales rise by 8% to 37,047 units, while Volkswagen Group reported a 26% jump to 16,635 units, thanks mainly to strong rebounds by Porsche and Audi. US EV maker Tesla saw its sales rise by 32% to 26,569 units year-to-date, while Volvo's sales declined by over 9% to 7,782 units. Toyota's deliveries fell by less than 2% to 5,279 units, while its Lexus division enjoyed an 19% rise to 8,963 units. Chinese automaker BYD, which officially entered the market earlier this year, has delivered 1,578 vehicles so far. The company said it aims to have 30 sales outlets operational by the end of the year. "South Korea vehicle imports rise 23% in July" 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. 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
Daily Mail
2 days ago
- Automotive
- Daily Mail
Used car sales surge as buyers avoid pricey new models and EVs
Britons are buying more second-hand cars than they have done for five years as drivers' reluctance to cough-up for increasingly expensive new models - and EVs - sees appetite for used motors surge. Official figures published on Friday show that 4,017,106 pre-owned cars changed hands in the first half of 2025. That is up 2.2 per cent from a year earlier and is only 37,274 transactions below the same period in 2019, before the coronavirus crisis hit. Mike Hawes, boss of the Society of Motor Manufacturers and Traders, said: 'Surpassing the four million half-year milestone for the first time since 2019 shows the UK's used car market is building back momentum. That's good news for the industry and for motorists who benefit from more choice and affordability across a range of higher tech, cleaner vehicles.' However, the buoyance of the second-hand market comes in complete contrast to the new car sector, which has failed to bounce back from the pandemic and is being propped up by fleet and business sales rather than private buyers. The evidence of this was made clear earlier this week as the latest car parc data showed that the average age of motors on Britain's roads has hit a record high as drivers refuse to fork out for new models, shun EVs and keep their existing vehicles for longer. To put the success of the used car sector into perspective, registrations of new models grew by 3.5 per cent to 1,042,219 units in the first half of 2025 - a quarter of the four million second-hand transactions recorded over the same period. And while sales of brand-new cars are 18 per cent below the level in 2019, the second-hand market is down just 0.9 per cent. Between April and June, petrol was the best-selling used car fuel type, with transactions rising by 1.5 per cent to 1,134,387 units. Diesel declined by 4.3 per cent to 664,644 units. The demise of diesel is not due to a lack of demand but a dramatic shrinking of availability, with manufacturers culling them from their ranges in an effort to ditch their 'dirty' connotations while transitioning to electric vehicles. The statistics also show that, while car makers are eagerly trying to push battery-powered cars on customers aided by the recent availability of the Government's Electric Car Grant, it is combustion-engine motors that continue to dominate used transactions. With EVs particularly in their relative infancy and hybrids drip feeding into the used market, traditional petrol and diesel models make up 90 per cent of second-hand purchases. Hawes said that in order to maintain the used market's strong recent trajectory, a 'thriving new car market must be delivered across the segments', along with 'accelerated investment into the charging network to give every driver the ability to switch' to an EV. Swing to used car market is why Britons' cars are older than EVER The latest used car sales update comes just days after a review of official vehicle registrations figures by the RAC Foundation found that the average car on the country's roads at the end of 2024 was nine years and ten months - the oldest since records began. This is up from seven years and five months a decade earlier at the end of 2015. And back in 2003, the average age was just six year and a month. The transport policy and research organisation said the figures suggest both positives and negatives for Britain's drivers. Firstly, the quality of reliability of the average car appears to be improving, meaning vehicles are lasting the test of time far better than they have done previously. However, the numbers also suggest that inflated new model prices - especially during a cost-of-living squeeze - and the transition to electric vehicles has put motorists off changing their cars. Responding to the newly published data, James Wilson, chief operating officer of used car marketplace Motorway, said: 'Momentum is building in the used car market. New car supply issues and cost-of-living pressures continue to push buyers towards more affordable used options, particularly EVs. Price parity between EVs and ICE (internal combustion engine) cars has arrived. This shift, combined with rising consumer confidence, will accelerate EV adoption.'
Daily Mail
3 days ago
- Automotive
- Daily Mail
Used car market booms on driver reluctance to cough-up for expensive new models and EVs
Britons are buying more second-hand cars than they have done for five years as drivers' reluctance to cough-up for increasingly expensive new models - and EVs - sees appetite for used motors surge. Official figures published on Friday show that 4,017,106 pre-owned cars changed hands in the first half of 2025. That is up 2.2 per cent from a year earlier and is only 37,274 transactions below the same period in 2019, before the coronavirus crisis hit. Mike Hawes, boss of the Society of Motor Manufacturers and Traders, said: 'Surpassing the four million half-year milestone for the first time since 2019 shows the UK's used car market is building back momentum. 'That's good news for the industry and for motorists who benefit from more choice and affordability across a range of higher tech, cleaner vehicles.' However, the buoyance of the second-hand market comes in complete contrast to the new car sector, which has failed to bounce back from the pandemic and is being propped up by fleet and business sales rather than private buyers. The evidence of this was made clear earlier this week as the latest car parc data showed that the average age of motors on Britain has hit a record high as drivers refuse to fork out for new models, shun EVs and keep their existing vehicles for longer. Britons are buying more second-hand cars than they have done for five years, according to a new report. It comes in contrast to declining new model registrations. The swing to used cars has seen the average age of vehicles on Britain's roads hit a new record high To put the success of the used car sector into perspective, registrations of new models grew by 3.5 per cent to 1,042,219 units in the first half of 2025. However, sales of brand-new cars are 18 per cent below the level in 2019, while the second-hand market is down just 0.9 per cent. Between April and June, petrol was the best-selling used car fuel type, with transactions rising by 1.5 per cent to 1,134,387 units. Diesel declined by 4.3 per cent to 664,644 units. The demise of diesel is not due to a lack of demand but a dramatic shrinking of availability, with manufacturers culling them from their ranges in an effort to ditch their 'dirty' connotations while transitioning to electric vehicles. The statistics also show that, while car makers are eagerly trying to push battery-powered cars on customers aided by the recent availability of the Government's Electric Car Grant, it is combustion-engine motors that continue to dominate used transactions. With EVs particularly in their relative infancy and hybrids drip feeding into the used market, traditional petrol and diesel models make up 90 per cent of second-hand purchases. Hawes said that in order to maintain the used market's strong recent trajectory, a 'thriving new car market must be delivered across the segments', along with 'accelerated investment into the charging network to give every driver the ability to switch' to an EV. Swing to used car market is why Britons' cars are older than EVER The latest used car sales update comes just days after a review of official vehicle registrations figures by the RAC Foundation found that the average car on the country's roads at the end of 2024 was nine years and ten months - the oldest since records began. This is up from seven years and five months a decade earlier at the end of 2015. And back in 2003, the average age was just six year and a month. The transport policy and research organisation said the figures suggest both positives and negatives for Britain's drivers. Firstly, the quality of reliability of the average car appears to be improving, meaning vehicles are lasting the test of time far better than they have done previously. However, the numbers also suggest that inflated new model prices - especially during a cost-of-living squeeze - and the transition to electric vehicles has put motorists off changing their cars. Responding to the newly published data, James Wilson, chief operating officer of used car marketplace Motorway, said: 'Momentum is building in the used car market. 'New car supply issues and cost-of-living pressures continue to push buyers towards more affordable used options, particularly EVs. 'Price parity between EVs and ICE (internal combustion engine) cars has arrived. 'This shift, combined with rising consumer confidence, will accelerate EV adoption.' James Hosking, managing director of AA Cars, said: 'The UK's used car market has kept up its strong momentum, as budget-conscious buyers continue to turn to second-hand vehicles. 'Used cars offer a sweet spot for drivers looking to stretch their money further, especially as prices have started to settle following the record highs of the past few years. 'This is opening the door to electric motoring for thousands more drivers. 'As more ex-lease and ex-fleet models hit the market, we expect this trend to continue.'
Al Bawaba
18-06-2025
- Automotive
- Al Bawaba
Audi Open Haus Begins in Oman with Five Days of Exclusive Offers at Premium Motors
Audi Oman represented by Premium Motors today announced the start of Audi Open Haus, a five-day retail experience taking place from June 18 to 22, 2025. Hosted at Premium Motors showroom, the event gives visitors the chance to explore Audi's latest models and benefits from a range of limited-time offers available exclusively in-store.A wide selection of models will be on display at Audi Open Haus, each presented with guided walk-throughs and dedicated product specialists to help visitors find the Audi that best suits their lifestyle. The new car lineup includes standout models such as the Audi A5, A7, S3, S8, RS 3, RS 5, RS 6, RS 7, e-tron GT, Q8 e-tron and SQ8 the Audi Approved Plus range will showcase a curated selection of certified pre-owned vehicles, including the Q3, S3, and e-tron Sportback, each thoroughly inspected and backed by Audi's strict quality standards. Whether you are interested in cutting-edge electric mobility, exhilarating performance, or trusted pre-owned excellence, Audi Open Haus offers a model for every kind of driver. Christian Nehme, General Manager of Premium Motors, said: 'We are proud to welcome our customers in Oman to the showroom for Audi Open Haus. Whether you are discovering Audi for the first time or looking to upgrade, this is a great opportunity to experience the line-up, connect with our team, and benefit from exclusive offers designed especially for our customers in the Sultanate this week.'
