Morning Bites

🇨🇳Total car sales in China decreased 6% YoY in December (vs. +3% YoY in November)

📌China’s new cataIyst containing (ICE+hybrids) car sales dropped 14% YoY in December (vs. -6% YoY in November). However, the exclusion of EV support 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 increased 7% YoY in December, vs. the +21% YoY in November. Specifically, local BEV sales (65% of total EV registrations) gained 14% YoY, while PHEVs shrank 4% YoY

#cars #EV #nickel #lithium #cobalt