Morning Bites (part 1)

🚘EU + UK passenger car registrations grew 12% YoY in September, after the 20% YoY increase in August, meeting our preliminary estimates. However, the sales figures were still 9% below the pre-COVID, 2019 level (-16% in August). To recap, the EU+UK accounted for some 20% and 32% of global autocatalyst Pd and Pt demand, respectively, in 2022. Therefore, given the continuously weak PMIs data in the region and the substantial inflationary pressures, we reiterate our cautious view on European car sales. This factor is likely to weigh further on PGM consumption, at least in the short term, we believe

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