Morning Bites

🚘New car registrations in France, the UK, Spain, Italy and Germany inched up 1% YoY in July, after the 4% YoY gain in June, but remained firmly below their pre-COVID level (-23% vs. July 2019). In particular, in Germany and Spain, car sales were both 28% below 2019 levels, while registrations in France were 27% weaker. As of Italy and UK, local sales were 18% and 6% below July 2019, respectively

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

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