Morning Bites

🚘EU + UK passenger car registrations grew 4% YoY in June, after the -2% YoY in May. The dynamics were in line with our estimates. Meanwhile, the sales were still 12% below the pre-COVID, 2019 level. We maintain our view that EU car sales are likely to remain sluggish, at least in the short term, given the still weak local economic activity in the region (as indicated by the EU PMI remaining <50), which is a negative factor for PGM consumption

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

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