Morning Bites (part 1)

🚘EU + UK passenger car registrations rose 19% YoY in June, slightly accelerating from the 18% YoY growth in May. The results were roughly in line with our estimates. However, the figure was still 15% below the pre-COVID, 2019 level (-23% in May). Hence, we reiterate our view that the adverse macroeconomic conditions are likely to keep weighing on car sales in Europe. This would in turn continue affecting the demand for PGMs. The EU+UK accounted for ~20% and 32% of the world autocatalyst Pd and Pt consumption, respectively, in 2022E

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