European car sales up +17.8% year-on-year in June, annual cumulative sales close to pre-pandemic levels

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Bankinter: Car sales increase by +17.8% year-on-year in June. This brings the cumulative annual figure to +17.9%.

Assessment: Solid figures, but heavily influenced by a favourable base effect. Sales continue the recovery process that started in August last year. The main markets show solid growth: Spain +24%, Italy +23%, France +15%, Germany +13%. However, compared to the cumulative January-June 2019 (before the pandemic), sales are still -21% lower.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.