Morning Bites (part 4)

🚘New car registrations in France, the UK, Spain, Italy and Germany rose 20% YoY in November from a low base, according to the preliminary data. However, this was 16% below the pre-COVID 2019 level. In France and Germany, car sales decreased 22% and 13% relative to 2019, respectively, while sales in Italy and Spain dropped 20% and 21%, respectively. UK sales contracted 9% relative to 2019. We note that these five countries account for ~70% of total new vehicle registrations in Europe, so EU + UK car sales were likely up YoY, but still below the pre-pandemic level. The full results for November sales are to be published on 15 December

#cars
https://metals-wire.com:3000/sector/PGM