Morning Bites (part 2)

🇨🇳Total car sales in China grew 8% YoY in March (vs. +34% YoY in February)

📌China’s new ICE car sales fell 7% YoY in March, vs. the +12% YoY in February. Meanwhile, the sales of local catalyst-containing cars (ICE+PHEV) were flat YoY, as hybrid registrations offset the slowdown in ICE sales in recent months. In our view, this is a supportive factor for medium-term PGM market fundamentals. We note that the Chinese automotive sector accounts for 20% and 17% of global Pd and Pt demand, respectively

📌New EV sales in China surged 40% YoY in March, vs. +87% YoY in February. Specifically, BEV sales (65% of total EV registrations) gained 42% YoY, while PHEVs also added 36% YoY

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