汽车行业周报：报废更新补贴翻倍政策有望持续拉动市场需求

Investment Rating - The report indicates a positive outlook for the automotive industry, suggesting a "look favorable" rating based on relative performance compared to the market benchmark index [23]. Core Insights - The doubling of the scrapping and updating subsidy policy is expected to continue driving market demand, with strong performance observed in various automotive sub-sectors [6]. - The retail sales of passenger vehicles from August 1-25 reached 1.305 million units, a year-on-year increase of 5%, while wholesale sales were 1.267 million units, a year-on-year decrease of 2% [7][10]. - The new energy vehicle market for passenger cars saw retail sales of 718,000 units from August 1-25, marking a 48% year-on-year increase [7]. Summary by Sections Industry Performance - From August 26 to August 30, the Shanghai and Shenzhen 300 Index saw a slight decline of 0.08%, while the automotive sector outperformed with a relative return of 2.55% [6]. Sub-industry Insights - Passenger Vehicles: Retail sales for the year-to-date reached 12.872 million units, a 3% increase year-on-year. The new energy segment showed significant growth, with wholesale sales increasing by 29% year-on-year [7]. - Commercial Vehicles: In July 2024, the domestic new energy heavy truck market sold 6,613 units, a 179% year-on-year increase, despite a 5% month-on-month decline [7]. Industry Dynamics - Several new models were launched between August 24 and August 28, including the new Mercedes-Benz V-Class and the 2024 Hyundai Custo, with price ranges from 49.68 to 66.98 million and 17.18 to 22.08 million respectively [12][15].