Morning Bites

🚘EU + UK passenger car registrations rose 11% YoY in January, after the one-off 2% YoY decline in December. However, the growth was moderately softer than our estimates amid lower sales in minor EU car markets. Meanwhile, sales were still -17% vs. the pre-COVID, 2019 level. In our view, EU car sales are unlikely to show a robust recovery in the near term, given slow economic activity (as indicated by the persistently weak local PMI data) and ongoing inflationary pressures in the region, which is a negative factor for 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