European Union New Car Registrations Fell -3% YoY In May 2024; BEV Registrations Down 12% YoY
Portfolio Pulse from Benzinga Newsdesk
European Union new car registrations fell by 3% year-over-year in May 2024, with battery electric vehicle (BEV) registrations down by 12% YoY.
June 20, 2024 | 9:11 am
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The decline in EU new car registrations, including a significant drop in BEV registrations, could negatively impact the Vanguard FTSE Europe ETF (VGK), which has exposure to European automakers.
VGK, which tracks the performance of European stocks, could be negatively impacted by the decline in new car registrations in the EU, particularly the significant drop in BEV registrations. This suggests potential revenue challenges for European automakers included in the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50