Morning Bites

🚘EU + UK passenger car registrations jumped 26% YoY in March from a low base, accelerating from the 13% YoY growth in February. The results were in line with preliminary estimates. Nevertheless, the figure was still 20% below the pre-COVID 2019 level (vs. -21% in February). We keep our negative outlook on EU car sales, given EV adoption and the economic slowdown. Weak car sales data is an adverse factor for PGMs demand. EU + UK accounted for 20% and 32% of the world auto-catalyst Pd and Pt demand, respectively, in 2022E

#cars
https://metals-wire.com:3000/sector/PGM