汽车行业周报：9月乘用车终端表现强劲，看好十月延续“金九银十”旺季行情

Investment Rating - The investment rating for the automotive sector is "Outperform the Market" [1] Core Views - The automotive sector experienced an overall increase of 11.07% from September 23 to September 27, underperforming the CSI 300 index by 4.63 percentage points [7][35] - The PE-TTM for the automotive industry as of September 27 is 22.5, which is an increase of 2.25 from the previous week [9][35] - Significant growth was observed in the retail sales of passenger vehicles, with a year-on-year increase of 10% for the first three weeks of September [36] Summary by Sections Market Review - The automotive sector's performance from September 23 to September 27 showed an increase of 11.07%, with the passenger vehicle segment rising by 11.72% and commercial vehicles by 8.37% [7][35] - The automotive parts sector increased by 11.46%, while the automotive services sector rose by 12.19% [7][35] Valuation Levels - The PE-TTM for the passenger vehicle, commercial vehicle, and parts segments are 25.25, 32.8, and 19.62 respectively, with increases of 2.67, 2.52, and 2.01 this week [9][35] Key Stock Performance - Notable stock performances included Best, Shuanghuan Transmission, and Weichai Power, which saw increases of 23.19%, 17.83%, and 16.67% respectively [20] Material Price Changes - As of September 27, the Shanghai aluminum index is 20471.67, copper index is 78774.23, rebar index is 3341.24, and rubber index is 18538.27, with respective changes of 2%, 3.9%, 5.98%, and 3.86% [22][35] New Vehicle Launches - A total of 32 new and updated vehicle models were launched during the week of September 23 to September 27, including models from BYD, Dongfeng, and Changan [33][34] Investment Recommendations - The report suggests that the automotive sector is showing positive momentum, with significant growth in related concept sectors such as smart vehicles and new energy vehicles, which saw increases of 18.47% and 16.2% respectively [14][35]