Morning Bites (part 1)

🇨🇳Total car sales in China increased 15% YoY in July (vs. +14% YoY in June)

📌China’s new ICE car sales rose 5% YoY in July, in line with June. Meanwhile, the sales of local catalyst-containing cars (ICE+PHEV) also grew 4% YoY. In our view, this is a favorable factor for medium-term PGM market fundamentals, if the positive trend in registrations persists. We also note that the Chinese automotive sector accounts for 20% and 17% of global Pd and Pt demand, respectively

📌New EV sales in China jumped 27% YoY in July, also in-line with June's dynamics. Specifically, local BEV sales (64% of total EV registrations) gained 47% YoY, while PHEVs added 3% YoY

#cars #EV #nickel #lithium #cobalt