Morning Bites (part 3) 

🚘US light vehicle sales rose 23% YoY in May, accelerating from the 9% YoY growth in April (still 14% below the pre-Covid 2019 level). Seasonally adjusted sales volumes grew 19% YoY last month (-12% vs. 2019). Although market participants in the US continue to be concerned about inflated car prices and growing interest rates, customer demand remains strong, which might bolster the positive YoY trend. However, we do not expect the US domestic market to recover to pre-Covid levels in 2023; therefore, the demand for PGMs from the automotive sector is likely to remain subdued

#cars 
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