Morning Bites

🚘EU + UK passenger car registrations rose 15% YoY in October, after the 12% YoY growth in September. The results roughly met our estimates. However, the sales figures were still 14% below the pre-COVID, 2019 level (-9% in September). To recap, the EU+UK accounted for some 20% and 32% of the world autocatalyst Pd and Pt demand, respectively, in 2022. Overall, given the ongoing inflationary pressures and persistently weak PMI data in the region, we maintain our cautious view on European car sales. We believe that this factor is likely to keep pressuring PGM consumption, at least in the near future

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