Morning Bites (part 1)

🚗💨 Internal combustion engine (ICE) car registrations in Europe dropped 16% YoY in 3Q24, after the 3% YoY slide in 2Q24. Petrol car sales shrank 15% YoY (vs. -2% YoY in 2Q24), while diesel cars fell 20% YoY. Diesel cars accounted for 24% of total ICE car registrations. Overall, the figures remain well below their pre-Covid levels, underpinning the soft local PGM demand. To recap, the EU represents 23% and 30% of global Pd and Pt autocatalyst demand, respectively

🚘 EV sales in Europe were down 11% YoY in 3Q24, after the -2% YoY seen in 2Q24, likely amid the cut in Germany's incentives. Specifically, BEV sales were -10% YoY (vs. flat dynamics in 2Q24), while PHEV sales dipped 14% YoY. The share of BEVs in total EV sales hit 70% (68% in 2Q24). Despite some slowdown in local sales, the growing global attractiveness of EVs is set 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