长安汽车(000625)：3月销量环比高增 自主品牌表现亮眼

Core Viewpoint - The company reported strong sales growth in March, driven by its self-owned brands and a significant increase in new energy vehicle sales [2][3]. Sales Performance - In March, the company achieved wholesale sales of 268,100 vehicles, representing a year-on-year increase of 3.48% and a month-on-month increase of 66.04% [2][3]. - Self-owned brands contributed significantly, with March sales of 233,200 vehicles, up 5.63% year-on-year and 70.33% month-on-month [2][3]. - The overseas market also showed growth, with March sales of 50,000 vehicles, a month-on-month increase of 5.32% [2]. New Energy Vehicles - The company is focusing on its new energy transition, with March sales of new energy vehicles reaching 87,000 units, a remarkable month-on-month increase of 119.51% [2][3]. - The self-owned new energy brands, including Avita, Deep Blue, and Qiyuan, showed impressive sales figures in March [3]. Brand Performance - Avita's sales in March reached 10,500 vehicles, a year-on-year increase of 108.83% and a month-on-month increase of 102.14% [3]. - Deep Blue delivered 24,400 vehicles in March, up 86.78% year-on-year and 30.06% month-on-month, with L2.5+ intelligent driving accounting for 92.7% of sales [3]. - Qiyuan's sales were 15,300 vehicles in March, a slight year-on-year increase of 0.30% and a month-on-month increase of 92.59% [3]. Future Outlook - The company expects steady sales growth with new vehicle launches, projecting revenues of 158.7 billion, 178.9 billion, and 209.9 billion yuan for 2024-2026, with corresponding growth rates of 4.89%, 12.75%, and 17.35% [4]. - The projected net profit for the parent company is 5.726 billion, 9.397 billion, and 11.336 billion yuan for the same period, with growth rates of -49.45%, 64.11%, and 20.64% respectively [4].