Morning Bites (part 2)

🚘New car registrations in France, the UK, Spain, Italy and Germany rose 4% YoY in August, vs. the 2% YoY gain in July. Sales remained firmly below their pre-COVID level (-28% vs. August 2019). Specifically, in France, car sales were 32% below their 2019 levels, while registrations in Italy and Germany were 25% and 34% weaker, respectively. UK sales were 10% below the 2019 level. Sales in Spain were 18% 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 up YoY last month, but remained well below their pre-pandemic levels

#cars #PGMs