汽车与汽车零部件行业周报：月度渗透率过半，供需均进入新阶段

Investment Rating - The report maintains a positive investment recommendation for the automotive and auto parts industry, suggesting a focus on long-term opportunities in automotive technology and international expansion [5]. Core Insights - In July, the retail sales of new energy vehicles (NEVs) in China reached 879,000 units, marking a year-on-year growth of 36.9% and a penetration rate of 51.1%, indicating a shift into a new phase of supply and demand dynamics [2][20]. - The report emphasizes the importance of exploring new growth curves through international expansion, enhancing competitive advantages, and potential mergers and acquisitions as the industry matures [2]. - The demand side is transitioning from early adopters to a broader consumer base, with a growing emphasis on integrated solutions and brand experience [2]. Summary by Sections Monthly Sales and Market Trends - In July, the retail sales of passenger vehicles in China were 1.729 million units, a year-on-year decrease of 2%, while the cumulative retail sales for the year reached 11.568 million units, a growth of 2% [20]. - The wholesale volume for NEVs in July was 955,000 units, reflecting a year-on-year increase of 30% [20]. Industry Developments - Mercedes-Benz became the first international automaker authorized to conduct L4 autonomous driving tests in Beijing [3]. - Geely Radar has established partnerships with numerous dealers in Thailand, marking a significant step in its international strategy [3][49]. - CATL signed a strategic investment agreement with Peak Aviation to develop eVTOL aviation batteries [3][35]. Investment Recommendations - The report suggests focusing on three key areas for long-term investment: smart/automated driving, humanoid robots, and flying cars, driven by technological advancements and regulatory support [4]. - Short-term attention should be given to value-leading component manufacturers that exhibit strong cyclical characteristics [4].