Morning Bites (part 2)

🚘US light vehicle sales were up 9% YoY in March from a low base, better than the 5% YoY growth in February but still 15% less than the 2019 level. Seasonally adjusted sales volumes increased 9% YoY in March (-14% vs. 2019). The weak sales data indicates that high car prices, loan payments and growing interest rates are keeping the market under pressure, which underpins our view that automotive demand for PGMs might remain subdued in 2023

#cars
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