9月前两周乘用车零售环比+12%，新势力多款新车密集上市

Investment Rating - The overall investment rating for the automotive industry is "Outperform the Market" [1][40]. Core Insights - The automotive sector experienced a rise of 2.19% from September 18 to September 20, outperforming the CSI 300 index by 0.87 percentage points [7][34]. - The PE-TTM for the automotive industry as of September 20 is 20.25, an increase of 0.44 from the previous week [2][9][34]. - Retail sales of passenger vehicles from September 1 to 15 reached 828,000 units, a year-on-year increase of 18% and a month-on-month increase of 12% [35]. Summary by Sections Market Review - The automotive sector's performance from September 18 to September 20 showed a 2.19% increase, with the passenger vehicle segment rising by 1.35% and commercial vehicles by 1.86% [7][34]. - The automotive parts sector increased by 2.77%, while the automotive services sector rose by 0.97% [7][34]. Valuation Levels - As of September 20, the PE-TTM for the passenger vehicle, commercial vehicle, and parts segments are 22.58, 30.28, and 17.61 respectively, with increases of 0.30, 0.48, and 0.49 this week [2][9][34]. New Vehicle Launches - Multiple new models were launched, including the NIO L60, Zeekr 7X, and Deep Blue L07, with prices ranging from 15.19 to 41.48 million yuan [4][35][32]. Investment Recommendations - The report suggests that the automotive sector is showing signs of recovery, with a notable increase in retail sales and new model launches, indicating potential investment opportunities [34].