Are we heading back to the golden age of cars? In this Noble6 Talks episode, Ed and Rich break down a surprising — and accelerating — shift: the return of internal combustion engine (ICE) vehicles. As automakers across the globe adjust course in response to lagging EV sales, a wave of new ICE production is setting up a potential boom in catalytic converter recycling. 

Legacy Automakers Are Doubling Down on ICE 

While the past four years have been all-in on electrification, automakers like Mercedes-Benz, BMW, Audi, Toyota, Subaru, and Ford are now reinvesting in ICE engine technology. Even Stellantis (which owns brands like Dodge, Jeep, Ram, Fiat, and Maserati) is building in flexibility to meet consumer demand for gas-powered vehicles. 

From V8 engines to hybrid fuel systems to hydrogen-powered internal combustion, the innovation isn’t slowing down — it’s just shifting lanes. 

European EV Plans Delayed Due to Low Demand 

Despite strong emissions targets in the EU, major brands are asking for implementation relief. Audi delayed its 2026 EV lineup rollout. The European Automobile Manufacturers’ Association (ACEA) has asked regulators to ease CO2 targets, citing disappointing EV sales and a saturated market. 

This tells us something critical: EV demand is slowing, and ICE isn’t going away anytime soon. 

North American Automakers Are Reinvesting in V8s 

Here in the U.S., the pivot back to ICE is even more dramatic: 

• Ford continues to prioritize the V8 Coyote engine for Mustangs and F-Series trucks 

• GM is investing $850 million in a 6th-gen small block V8 program 

• Stellantis says their strategy is to grow “where the consumer demand is,” balancing EVs and ICE 

This isn’t a retreat — it’s a realignment. Consumers want gas-powered vehicles, and manufacturers are responding. 

More ICE Cars = More Converters for Recycling 

What does this mean for catalytic converter recycling? 

• More new ICE vehicle production means more future converters 

• More trade-ins and end-of-life vehicles means more converters hitting the scrap stream 

• Used car prices will drop, encouraging turnover and adding inventory to salvage yards 

In short: the supply of scrap catalytic converters is expected to increase significantly over the next few years. 

Expect a Growing Surplus of Palladium 

More ICE vehicles also means more converters loaded with Palladium. And while we’re already in a PGM surplus, this additional wave will put further downward pressure on Palladium prices. 

Smart recyclers may want to move their inventory before the market corrects. 

Are We Witnessing a Full Comeback? 

From the “Back to the Future” nod to serious manufacturer investment, the message is clear: internal combustion isn’t dead — it’s making a comeback. 

So the question for anyone in recycling, automotive salvage, or converter processing is:
Are you positioned to profit from it — or stuck waiting for EVs that aren’t selling? 

Maximize Your Profits While the Market Shifts 

Use the noble6 Converter Price Guide to: 

• Check real-time scrap values 

• Compare thousands of part numbers 

• Keep your buyers honest 

• Avoid selling during a price dip 

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