Morning Bites

🚗💨Internal combustion engine (ICE) car registrations in the EU rose 3% YoY in 4Q22 from the low base, reversing from the 4% YoY decline in 3Q22. Petrol car sales were up 5% YoY in 4Q22 (vs. -3% YoY in 3Q22), while diesel car registrations dropped 1% YoY (vs. -5% YoY). Diesel cars accounted for 28% of ICE car sales in 4Q22 (roughly unchanged QoQ and YoY). Overall, the stagnant sales dynamics are unfavourable for PGMs, as the EU represents 20% and 31% of global Pd and Pt autocatalyst demand, respectively

🚘EU+UK EV sales surged 31% YoY in 4Q22, accelerating from the 5% YoY growth in 3Q22. In particular, BEV sales gained 36% YoY (vs. +16% YoY in 3Q22), while PHEV sales rose 22% YoY (vs. -9% YoY). The share of BEVs in total EV sales grew slightly to 64% in 4Q22, from 62% in 3Q22. Overall, the upbeat local EV sales are likely to have a positive effect on the demand for battery metals (such as nickel, lithium and cobalt)

#cars #EV #nickel #lithium #cobalt
https://metals-wire.com:3000/news-reports