CAPE TOWN: The West European new car market saw registrations rise by 10.6% year on year in March to 1.6-million units, which bodes well for the platinum price. The rise in new car demand also helps South African motor manufacturers who export to Europe. The new vehicle exports are surged to 38.5% year on year in March to 34,147 units after a 35.6%year-on-year jump in February to 29,760 units.
This is because European demand accounts for slightly more than a third of global platinum demand for use in autocatalysts, even though the region produces less than a quarter of new cars worldwide. This disparity is because the Europeans have stringent emission standards that require higher platinum loadings in the autocatalysts.
