汽车行业动态研究报告：以旧换新政策持续推进，2024年国内汽车零售销量预计将达2230万辆

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [7] Core Insights - The domestic automotive retail sales are expected to reach 22.3 million units in 2024, representing a year-on-year increase of 3% [5] - The growth in retail sales is driven by the continuous implementation of the vehicle replacement policy and the launch of competitive new models [6] - The number of applications for vehicle scrapping and replacement subsidies has exceeded 1.13 million, indicating strong demand [5][6] Summary by Sections Industry Performance - The automotive sector has shown a performance of 15.7% over the last month, 6.3% over the last three months, and 1.8% over the last year, outperforming the CSI 300 index [1][2] Policy Impact - The government has introduced measures to promote vehicle replacement, including increasing subsidy standards and improving application processes [5] - The number of scrapped vehicles has increased by 42.4% year-on-year from January to August 2024, with significant monthly growth rates observed since the implementation of the subsidy policy [5] Investment Recommendations - The report suggests focusing on companies that have deep collaborations with Huawei, such as Seres and JAC Motors, as well as on automotive parts manufacturers benefiting from industry restructuring and technological changes [7] - Specific growth areas highlighted include lightweight components, interior and exterior parts, smart vehicles, and the integration of automotive and robotics technologies [7]