Morning Bites (part 1)

🚘EU + UK passenger car registrations rose 18% YoY in May, slightly accelerating from the 16% YoY growth in April. The results were in line with our estimates. Nevertheless, the figure was still 23% below the pre-COVID, 2019 level (-28% in April). Therefore, we reiterate our view that car sales in Europe are likely to remain stressed, at least in the near future, amid the adverse global macroeconomic conditions. Overall, this would keep weighing on PGM demand: the region accounted for ~20% and 32% of the world autocatalyst Pd and Pt consumption, respectively, in 2022E

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