You can't grow the size you allocated with new[] in-place, and because you need to retain the existing data it's not safe to delete[] the old buffer, call new[] and hope that it points to the previous memory address and assume that the existing data remains intact.
A realloc implementation can try to grow the buffer if there's contiguous space, and if it succeeds it doesn't need to deallocate or copy anything. I haven't had a look at realloc implementations so I don't know if that, or other optimizations are done in practice, but I assume that realloc's worst performance case is somewhere around new[], copy and delete[]'s best case.
The copy mechanism in std::vector may also have a significant overhead over realloc if it has to call the copy constructor (or ideally move constructors in C++11) of every object in the vector, although I can imagine a C++ equivalent of realloc doing so too.