Morning Bites

🚘EU + UK passenger car registrations dropped 17% YoY in August, after being flat YoY in July. The dynamics were broadly in-line with our estimates. Meanwhile, the figure remained 30% below the pre-COVID, 2019 level. We reiterate our view that EU car sales are likely to remain subdued in the near future, amid persistently weak local economic activity (as indicated by the EU PMI remaining <50), which is likely to further weigh on PGM consumption

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