Morning Bites

🚗💨Internal combustion engine (ICE) car registrations in Europe declined 4% YoY in 1Q24, after the 1% YoY growth in 4Q23. Petrol car sales decreased 1% YoY (vs. +6% YoY in 4Q23), while diesel cars were down 11% YoY. Diesel cars accounted for 24% of total ICE car registrations (also 24% in 4Q23). Overall, the figures remain far below the 2019 levels, weighing on PGM demand. To recap, the EU represents 20% and 31% of global Pd and Pt autocatalyst demand, respectively

🚘 EV sales in Europe increased 6% YoY in 1Q24, after the -9% YoY in 4Q23. Specifically, BEV sales gained 3% YoY (vs. -4% YoY in 4Q23), while PHEV sales rose 11% YoY. The share of BEVs in total EV sales was 64% (67% in 4Q23). BEV sales in Germany (~20% of total EV sales in Europe) were down 14% YoY in 1Q24, likely amid incentives cut. Growing global interest for EVs, however, is likely to further drive up the demand for the battery metals (e.g. Ni, Li and cobalt)

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