The US car market continues to grapple with pandemic-induced supply shortages, leading to sustained high prices for both new and used vehicles. Production cuts and a shift to higher-profit models have reduced overall supply, impacting affordability for consumers.
Tesla maintained its lead in South Korea's imported car market in May, selling 10,866 units, primarily driven by its Model Y. BMW and Mercedes-Benz followed, while EVs constituted 48.6% of new registrations.
German electric vehicle subsidies are driving the car market, with EV registrations up 39% in May and reaching a 25% market share. However, experts warn the state funding primarily benefits foreign brands and may only provide a temporary boost.
India's used-car market is experiencing a significant boom, with buyers increasingly opting for pre-owned SUVs and premium vehicles over new entry-level hatchbacks. This trend is driven by a desire for aspirational ownership and better features at a lower cost, with the market projected to reach $70 billion by FY31.
The Italian car market experienced its sixth consecutive monthly increase in May 2026, with registrations up 7.6% year-on-year. Stellantis outperformed the market with a 9.9% rise, while Chinese brands, particularly Leapmotor, showed significant growth.
EU new car market grows 4.2% in first four months of 2026, with electric and hybrid vehicles dominating the market
The International Energy Agency (IEA) projects global electric vehicle (EV) sales to hit 23 million in 2026, representing 28% of the new car market, driven by a stronger push away from gasoline amid Middle East tensions. In 2025, EV sales are expected to exceed 20 million, with nearly 100 countries setting sales records.
Stellantis announced plans to launch four new electric vehicles in 2027, leveraging Chinese technology from its joint venture with Dongfeng. The European carmaker will invest US$130 million of a combined US$1.18 billion budget for mass production, with some models slated for export.
India's used car market is projected to double from $35 billion to around $70 billion by FY31, with the country expected to rise from 5th to 3rd largest globally. Driven by shorter ownership cycles, rising incomes, and premiumisation, annual sales are forecast to reach 9-10 million units, while 65% of buyers are first-time owners.
Xpeng CEO He Xiaopeng has set a goal to fully outperform Tesla's Full Self-Driving system in the Chinese market by August 2026. At the Beijing International Automotive Exhibition (Auto China 2026), He claimed Xpeng's Vision Language Action (VLA) system already outperforms Tesla in certain complex driving scenarios, citing China's more challenging driving environment as the benchmark for overall capability.
SEOUL, April 23 (Yonhap) -- Honda Korea, the South Korean sales unit of Japan's ...
