Morning Bites (part 1)

🚗💨Internal combustion engine (ICE) car registrations in Europe were up 1% YoY in 4Q23, in line with the 3Q23 dynamics. Petrol car sales rose 6% YoY (vs. +5% YoY in 3Q23), while diesel car registrations fell 11% YoY. Diesel cars accounted for 24% of total ICE car sales, 1pp lower than in 3Q23. Generally, sales remained well below the 2019 levels, which is a negative factor for PGM prices: the EU represents 20% and 31% of global Pd and Pt autocatalyst demand, respectively

🚘 EV sales in Europe declined 9% YoY in 4Q23, mostly due to the high base effect, after the +35% YoY seen in 3Q23. Specifically, BEV sales were down 4% YoY (vs. +50% YoY in 3Q23), while PHEV sales fell 17% YoY. The share of BEVs in total EV sales decreased slightly to 67%, from 69% in 3Q23. Overall, the growing appetite for EVs is 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/news-reports