Morning Bites (part 2)

🇨🇳Total car sales in China grew 10% YoY in April (vs. +8% YoY in March)

📌China’s new ICE car sales declined 10% YoY in April, vs. the -7% YoY in March. Meanwhile, the sales of local catalyst-containing cars (ICE+PHEV) were down only 4% YoY, as solid hybrid registrations were limiting the slowdown in pure ICE sales in recent months. In our view, this is a favorable 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 44% YoY in April, being broadly in-line with the +40% YoY in March. Specifically, BEV sales (67% of total EV registrations) gained 58% YoY, while PHEVs added 22% YoY

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