汽车行业周报：新M7 Ultra交付破万台，看好自主车企爆款潜力

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [1]. Core Insights - The new M7 Ultra has delivered over 10,000 units, indicating strong potential for popular models from domestic automakers. Recent launches from companies like AITO, BYD, and Changan have seen rapid growth in orders and sales. The second half of 2024 is expected to see a rich lineup of new models from domestic brands, enhancing their market performance [1][8]. - The report highlights significant advancements in intelligent driving capabilities and competitive pricing, which are expected to drive the performance improvements of domestic automakers [1][8]. Summary by Sections Recent Developments - The new M7 Ultra achieved a delivery milestone of over 10,000 units within 18 days, setting a record for new energy vehicles. Other models like BYD's Qin L and Changan's G318 are also performing well in the market [1][8]. - The report notes that various new models are set to launch in the latter half of 2024, including BYD's Song L and Changan's S05, which are anticipated to further boost sales [1][8]. Industry Dynamics - In the electric vehicle sector, Henan province has allocated 510 million yuan for vehicle trade-in subsidies to stimulate automotive consumption. Additionally, NIO has restructured its intelligent driving R&D department to enhance its capabilities [9][10]. - BYD is in the final stages of negotiations for a factory in Mexico, aiming for a production target of 50,000 vehicles this year [12] [11]. Market Performance - The automotive sector outperformed the Shanghai and Shenzhen 300 Index by 1.6 percentage points during the week of June 17-21, 2024. The automotive sector saw a slight increase of 0.34%, while the passenger vehicle segment rose by 2.07% [16][19]. - In May 2024, retail sales of passenger vehicles reached 1.71 million units, showing a year-on-year decline of 1.8% but a month-on-month increase of 11.6%. New energy vehicles accounted for 47% of retail sales, marking a significant increase from the previous year [23][27]. Investment Recommendations - The report suggests focusing on domestic automakers with new product cycles and potential overseas growth, such as Changan, Great Wall, and BYD. It also highlights companies specializing in high-level intelligent vehicles and key components for electric vehicles [1][8].