Morning Bites (part 2)

🚘New car registrations in France, the UK, Spain, Italy and Germany declined 6% YoY in June, vs. the 1% YoY gain seen in May. Sales remained firmly below their pre-COVID level (-20% vs. June 2019). Specifically, in France, car sales were 27% below their 2019 levels, while registrations in Italy and Germany were 23% and 21% weaker, respectively. UK sales were 14% below the 2019 level. Sales in Spain were 9% beneath the 2019 levels

Given these five countries represented more than 70% of new vehicle registrations in Europe in 2024, the region’s car sales likely inched down YoY last month, and remained well below their pre-pandemic levels

#cars #PGMs