Morning Bites

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

📌China’s new ICE car sales increased 7% YoY in September (vs. the +8 YoY in August). In our view, this is a favourable 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 25% YoY in September, broadly in-line with the +27% seen n June-August. Specifically, local BEV sales (66% of total EV registrations) gained 37% YoY, while PHEVs added 7% YoY

#cars #EV #nickel #lithium #cobalt