Morning Bites (part 2)

🚘EU + UK passenger car registrations were down 2% YoY in December, marking the first decline in 17 months - in line with our estimates. At the same time, the sales remained 17% below their pre-COVID, 2019 level (-11% in November). In our view, EU car sales are unlikely to recover in the short term, amid the ongoing inflationary pressures and slow economic activity in the region (indicated by persistently weak local PMI data), which might put additional pressure on global PGM consumption

To recap, the EU+UK accounted for some 20% and 32% of the world autocatalyst Pd and Pt demand, respectively, in 2022

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