Morning Bites (part 1)

🚗💨Internal combustion engine (ICE) car registrations in Europe inched up 1% YoY in 3Q23, after the 7% YoY growth in 2Q23. Petrol car sales were up 5% YoY (vs. +12% YoY in 2Q23), while diesel car registrations declined 9% YoY. Diesel cars accounted for 25% of total ICE car sales, the same as in 2Q23. Overall, the figures remain significantly below the 2019 levels, weighing on PGM prices: the EU represents 20% and 31% of global Pd and Pt autocatalyst demand, respectively

🚘 EV sales in Europe jumped 35% YoY in 3Q23, in line with the 2Q23 dynamics. Specifically, BEV sales gained 50% YoY (vs. +57% YoY in 2Q23), while PHEV sales rose 11% YoY. The share of BEVs in total EV sales increased slightly to 69%, from 67% in 2Q23. In our view, continuously strong local EV sales are likely to have a positive effect on the demand for battery metals (e.g. nickel, lithium and cobalt)

#cars #EV #nickel #lithium #cobalt
https://metals-wire.com:3000/news-reports