Morning Bites (part 1)

🚘EU + UK passenger car registrations rose 20% YoY in August, after the 17% YoY growth in July, with the results meeting our preliminary estimates. However, the sales figures were still 16% below the pre-COVID, 2019 level (-23% in July). To recap, the EU+UK accounted for some 20% and 32% of the world autocatalyst Pd and Pt demand, respectively, in 2022. Therefore, given the persistently weak PMI data in the region and ongoing inflationary pressures, we keep our cautious outlook on European car sales. In our view, this factor is set to continue pressuring PGM consumption, at least in the near future

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