Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany dropped 4% YoY in November, following the 3% YoY slide in October, and remained firmly below their pre-COVID level (-15% vs. November 2019). In Germany and Spain, car sales were 18% and 11% below their 2019 levels, respectively, while registrations in France were 23% weaker. As for Italy, sales were 18% below the 2019 level, while UK sales were down 2%

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