Morning Bites (part 2)

🚗💨Internal combustion engine (ICE) car registrations in EU rose 13% YoY in 1Q23 from a low base, after the 3% YoY growth in 4Q22. Petrol car sales were up 18% YoY (vs. +5% YoY in 1Q22), while diesel car registrations were almost flat (vs. -1% YoY). Diesel cars accounted for 26% of ICE car sales (vs. 28% in 4Q22 and 29% in 1Q22). Overall, the sales are still far below the 2019 levels, weighing on PGMs prices: the EU represents 20% and 31% of global Pd and Pt autocatalyst demand, respectively

🚘EU+UK EV sales rose 18% YoY in 1Q23, following the 31% YoY growth in 4Q22. BEV sales gained 33% YoY (vs. +36% YoY in 4Q22), while PHEV sales shrank 3% YoY (vs. +22% YoY). The share of BEVs in total EV sales grew slightly to 66%, from 64% in 4Q22. In our view, continuously strong local EV sales likely to positively affect the demand for battery metals (e.g. nickel, lithium and cobalt)

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