Morning Bites

🚘 New car registrations in France, the UK, Spain, Italy and Germany inched down 2% YoY in May, after the 12% YoY growth in April. The figure also remained materially below the pre-COVID level (-26% vs. May 2019). Specifically, in Germany and Italy, car sales were 29% lower than the same month in 2019, while registrations in France and Spain were 27% and 24% weaker, respectively. UK car sales dropped 20% YoY

Given these five countries represented >70% of new vehicle registrations in Europe in 2023, local car sales have likely remained subdued in May

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