Morning Bites (part 3)

🚘EU + UK passenger car registrations rose 12% YoY in April, a reversal of the -2% YoY in March. The dynamics also matched our estimates. Meanwhile, the sales were still 20% below the pre-COVID, 2019 level. We reiterate our view that EU car sales are likely to remain sluggish in the near future, given continuously weak local economic activity (as indicated by the EU PMI remaining <50) and persistent inflationary pressures in the region, which is a negative factor for PGM consumption

To recap, the EU+UK accounted for some 23% and 30% of world autocatalyst Pd and Pt demand, respectively, in 2023

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