Morning Bites

🚘New car registrations in France, the UK, Spain, Italy and Germany inched up 2% YoY in November, vs. the 5% YoY gain in October. However, total sales remained below their pre-COVID level (-14% vs. November 2019). Specifically, in France, car sales were 23% below their 2019 level, while registrations in Italy and Germany were 18% and 16% 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 low-single digits YoY last month, but remained well below their pre-pandemic levels

#cars #PGMs