Morning Bites (part 1)

🚘EU + UK passenger car registrations rose 3% YoY in March, reversing the 3% YoY decline in February. Growth was mainly driven by BEV sales (+24% YoY in March), while catalyst-containing car sales slid 1% YoY; the figure matched our estimates, remaining 19% below the pre-COVID 2019 level

We maintain our view that the ongoing monetary easing cycle in the EU/US and China, the increase in EU import duties (from 10% up to 45%) on Chinese BEVs (encouraging the production of catalyst-containing cars), and the expected cancellation of EV-support programmes in the US (which could even be replaced with USD 1,000 new EV purchase tax), might bolster the PGM market fundamentals

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