Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany grew 18% YoY in June, a slight acceleration from the 17% YoY growth in May. Nevertheless, the figure was still 18% below the (2019) pre-COVID level. Specifically, in Germany and Spain, car sales were down 14% and 23%, respectively, vs. 2019, while sales in France were 17% lower. Moreover, sales in the UK and Italy were 21% and 19% less than in 2019, respectively. Given that these countries represent ~70% of total European new vehicle registrations, we believe that local car sales have likely continued to show YoY growth, while remaining below their pre-pandemic levels

#cars  
https://metals-wire.com:3000/sector/PGM