Morning Bites (part 1)

🚗💨Internal combustion engine (ICE) car registrations in Europe declined 3% YoY in 2Q24, after the -4% YoY in 1Q24 (and were also -58% vs. 2Q19 level). Petrol car sales shrank 2% YoY (vs. -1% YoY in 1Q24), while diesel cars were down 5% YoY. Diesel cars accounted for 25% of total ICE car registrations (24% in 1Q24). Overall, the figures remain well below the pre-Covid levels, stressing PGM demand. To recap, the EU represents 23% and 30% of global Pd and Pt autocatalyst demand, respectively

🚘 EV sales in Europe inched down 2% YoY in 2Q24, after the +6% YoY in 1Q24. Specifically, BEV sales were flat YoY (vs. +3% YoY in 1Q24), while PHEV sales dipped 7% YoY. The share of BEVs in total EV sales was 68% (64% in 1Q24). Despite some slowdown in local sales, the growing global attractiveness of EVs is likely to provide further support to the demand for the battery metals (e.g. Ni, Li and cobalt)

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