Morning Bites

🇨🇳Total car sales in China increased 16% YoY in August (vs. the +15% YoY in July)

📌China’s new ICE car sales rose 8% YoY in August (vs. the +5 YoY in July). Meanwhile, the sales of local catalyst-containing cars (ICE+PHEV) also grew 8% 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 August, in-line with July's dynamics. Specifically, local BEV sales (65% of total EV registrations) gained 41% YoY, while PHEVs added 8% YoY

#cars #EV #nickel #lithium #cobalt