汽车行业周报：预计6月新能源渗透率达49.1%，智能汽车或将迎来β向上

Investment Rating - The report maintains an "Outperform" rating for the automotive industry as of June 23, 2024 [1]. Core Insights - The report highlights that the penetration rate of new energy vehicles (NEVs) is expected to reach 49.1% in June, with a projected retail volume of approximately 860,000 NEVs, reflecting a month-on-month increase of 6.9% [2]. - The report emphasizes the potential for growth in the smart vehicle sector, driven by government policies and technological advancements [2]. - The report suggests that the automotive market is likely to see increased sales due to the implementation of vehicle replacement subsidies and manufacturers striving to meet semi-annual sales targets [2]. Summary by Sections 1. Market Review - The SW automotive sector index rose by 0.3% last week, while the CSI 300 index fell by 1.3%. The passenger vehicle sector increased by 2.1%, and the commercial passenger vehicle sector surged by 7.8% [7]. 2. Market Highlights 2.1 Industry News - In the first half of June, wholesale passenger vehicle sales were 619,000 units, down 20% year-on-year, while retail sales were 634,000 units, down 13% year-on-year [24]. - The National Development and Reform Commission (NDRC) expressed strong opposition to the EU's proposed tariffs on Chinese electric vehicles, emphasizing the need for fair competition [24]. - The NDRC announced plans to enhance charging infrastructure, focusing on network optimization and service improvement [25]. 2.2 Company News - Major companies such as GAC Group and BYD are highlighted for their performance, with BYD's passenger vehicle sales reaching 330,000 units in May, a year-on-year increase of 38.2% [27]. - Dongfeng Motor signed a cooperation agreement with Guangxi to develop the new energy vehicle industry [25]. 2.3 New Vehicle Launches - Several new models were launched, including the Wuling Bingo and Hongqi H6, with prices ranging from 5.68 to 59.98 million yuan [30]. 2.4 International Sales Data - In North America, vehicle sales in May totaled 166.2 million units, reflecting a year-on-year increase of 4.9% [32]. 3. Investment Recommendations - The report recommends focusing on companies like BYD and GAC Group, which are well-positioned to benefit from policy changes and market trends [2].