Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany rose 10% YoY in September, vs. the 4% YoY gain in August. However, the sales remained below their pre-COVID level (-9% vs. 2019 level). Specifically, in France, car sales were 19% below their 2019 level, while registrations in Italy and Germany were 11% and 4% weaker, respectively. UK sales were 9% below the 2019 level, while Spain figures were 4% higher

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