In this article from the World Platinum Investment Council, we see how the United States has finalised its vehicle emission reduction targets for 2032. The Environmental Protection Agency (EPA) has set CO2 emission reduction targets of -56% and -44% for light-duty and light-commercial vehicles respectively between 2026 and 2032. These targets are unchanged from those proposed in April 2023, however, the interim thresholds leading up to the 2032 targets have been made more lenient, thereby allowing for a slower initial BEV transition. WPIC estimates that each 1% of North American ICE-based market share supports around 25 koz of 2E PGM demand respectively.
WPIC research indicates that the platinum market is entering a period of consecutive deficits from 2023 and that the platinum price remains historically undervalued and significantly below both gold and palladium, making it an attraction as an investment asset.
Notes
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