Morning Bites

🇨🇳Total car sales in China increased 3% YoY in November (vs. +9% YoY in October)

📌China’s new cataIyst containing (ICE+hybrids) car sales slid 6% YoY in November (vs. flat YoY in October). In our view, the news suggesting support for EVs might be excluded from China’s 2026-30 strategic industries plan (as recently reported by Reuters), as well as the potentially higher PGM loadings into local autocatalysts after 2026 (due to the upcoming China 7 emissions standard), are likely to bolster Pd/Pt market fundamentals in the medium term. To recap, the Chinese automotive sector accounts for 20% and 17% of global Pd and Pt demand, respectively

📌New EV sales in China jumped 21% YoY in November, vs. the +20% YoY in October. Specifically, local BEV sales (64% of total EV registrations) gained 29% YoY, while PHEVs added 8% YoY

#cars #EV #nickel #lithium #cobalt