Morning Bites (part 4)

🚘New car registrations in France, the UK, Spain, Italy and Germany grew 12% YoY in February, according to the preliminary data. Nonetheless, the figure was still 26% below the (2019) pre-COVID level. Specifically, in Germany and Spain, car sales were down 27% and 30%, respectively, vs. 2019, while sales in France were hit the most, by ~40%. Moreover, UK and Italy sales were 9% and 7% lower relative to 2019, respectively. Given that the above countries represent ~70% of new vehicle registrations in Europe, local car sales have likely continued to grow YoY, while remaining below their pre-pandemic levels

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