Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany were up 17% YoY in January, returning to the positive dynamics after the one-off 3% YoY decline in December. However, the figure is still well below the pre-COVID level (-15% vs. January 2019). In particular, in Germany and Spain, car sales were 20% and 27% lower, respectively, than the same period in 2019, while registrations in France were 3% lower. Sales in Italy were 14% below the 2019 figures, while UK sales were 11% weaker

Given that these five countries represented >70% of new vehicle registrations in Europe in 2023, the region’s car sales have likely followed the recovery trend, while remaining below their pre-pandemic levels

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