EU new passenger car registrations began the year on a strong note rising 7.1% in January, when compared to the same time last year, to 1.25 million units and increased by 14.7% sequentially from December’s figures, according to the European Automobile Manufacturers Association (ACEA). Sales for the month were the highest for a single January period in ten years.
It was also noted that sales were supported in this past month by one additional sales day than in January and December of 2017. Of the major EU markets, only the UK (-6.3%) posted lower sales while Spain (+20.3%), Germany (+11.6%), Italy (+3.4%) and France (+2.5%) recorded improved sales y/y. In calendar 2017, the EU reported a 3.4% rise in new passenger car registrations to 15.14 million units.
Commercial vehicle sales across the EU countries increased 3.2% y/y in calendar 2017 to 2.4 million units. Of the major EU markets, sales increased in Spain (+13.5%), France (+6.9%) and Germany (3.3%), but with Italy (-2.3%) and the UK (-4.4%) reporting fewer sales for the year. New commercial registrations for the month of December 2017 were down 3.5% y/y owing in part to one fewer sales day and in part to an unexpectedly large decline in sales in Italy which reported a 17.4% y/y drop for the month.
Also in this week’s Platinum Market Review:
-Platinum prices have also climbed back over the $1,000 level -Vale reported a significant decrease in PGM production in its fiscal year ending December 2017 with palladium outturn down by 33.5% -Rhodium prices had eased briefly over the past two weeks following the drop in most commodities -Gold prices reclaimed most of the losses of the past three weeks rising by some $50 an ounce as a reported spike in US inflation rates
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