Morning Bites

🚘New car registrations in France, the UK, Spain, Italy and Germany dropped 20% YoY in August, after the 1% YoY gain in July, and remained firmly below their pre-COVID level (-30% vs. August 2019). In Germany and Spain, car sales were 37% and 30% below their 2019 levels, respectively, while registrations in France were 33% weaker. As for Italy and the UK, sales were 22% and 9% below August 2019, respectively

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

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