Morning Bites (part 2)

🚘EU + UK passenger car registrations were down 2% YoY in May, after the increase of 12% YoY in April. The dynamics matched our estimates. Meanwhile, the sales were still 24% 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 in the region (as indicated by the EU PMI remaining <50), which might further weigh on 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