汽车行业周报：萝卜快跑热议有望加速智驾落地

Investment Rating - The report gives an investment rating of "Positive" for the automotive industry [2] Core Insights - The launch of Baidu's "Luobo Kuaipao" is accelerating the implementation of smart driving, presenting investment opportunities within the industry chain [5][8] - The sixth generation of Luobo Kuaipao's autonomous vehicles has seen a 60% reduction in overall costs compared to the fifth generation, with a target price of approximately 200,000 yuan [5][8] - The report anticipates that with the maturation of smart driving technology, cost reductions, and supportive policies, a significant turning point for smart driving will be reached, benefiting related companies in the industry chain [5][8] Summary by Sections 1. Luobo Kuaipao Accelerates Smart Driving Implementation - Luobo Kuaipao, an autonomous driving service platform by Baidu, has launched in 11 cities and completed over 600 million rides, with a total autonomous driving mileage exceeding 100 million kilometers [5][8] - The sixth generation vehicles utilize Baidu's Apollo ADFM model, supporting L4 level autonomous driving, and have achieved full coverage in Wuhan [5][8] - Operational costs are expected to decrease by 30% as the autonomous network is completed, with service costs projected to drop by 80% [5][8] 2. Market Review - The automotive sector saw a weekly increase of 5.4%, outperforming the Shanghai and Shenzhen 300 index, with notable gains in automotive services and passenger vehicles [9] - The overall PB valuation for the automotive sector is 2.03 times, with passenger vehicles at 2.50 times and parts at 1.86 times [9] 3. Industry Data - In June 2024, total automotive sales were 2.552 million units, a year-on-year decrease of 2.7%, while cumulative sales for the first half of 2024 reached 14.047 million units, up 6.1% year-on-year [14] - New energy vehicle sales in June 2024 were 1.049 million units, reflecting a year-on-year increase of 30.1% [14] 4. Industry Announcements and News - Various companies have released performance forecasts, with notable increases in expected net profits for companies like Longhua Automotive and Ruohua Mould [23][24] - Industry news includes BMW's strategic shift away from price wars in China and Volkswagen's second-quarter delivery decline of 3.8% [23][26] 5. Valuation of Major Companies - The report includes a valuation table for major companies in the automotive sector, highlighting their market performance and projected earnings [27][28]