Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany rose 5% YoY in October, vs. the 10% YoY gain in September. However, total sales remained below their pre-COVID level (-13% vs. 2019 level). Specifically, in France, car sales were 26% below their 2019 level, while registrations in Italy and Germany were 20% and 12% weaker, respectively. UK and Spain figures were broadly in-line with 2019 levels

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

#cars #PGMs