Morning Bites (part 1)

🚘New car registrations in France, the UK, Spain, Italy and Germany rose 17% YoY in May, in line with the 16% YoY growth in April. Nevertheless, the figure was still 25% below the (2019) pre-COVID level. Specifically, in Germany and Spain, car sales were down 26% and 27%, respectively, vs. 2019, while sales in France were 25% lower. At the same time, sales in the UK and Italy were 21% and 24% below the 2019 figures, respectively. Given that these five countries represent ~70% of new vehicle registrations in Europe, we assume that car sales in the region have likely continued to show some YoY recovery, while remaining well below their pre-pandemic levels

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