汽车行业周报：9月狭义乘用车零售市场预计约210万辆，环比约+10%

Investment Rating - The report maintains an "Overweight" rating for the automotive industry [4][5]. Core Insights - The retail market for passenger vehicles in September 2024 is expected to reach approximately 2.1 million units, reflecting a year-on-year increase of 4% and a month-on-month increase of 10.1% [23]. - The automotive industry saw a rise of 11.07% in the past week (September 23-27, 2024), underperforming compared to the overall A-share market, ranking 27th among all primary industries [5][7]. - The report highlights a stable growth outlook for domestic automotive consumption driven by supportive policies [4]. Summary by Sections 1. Core Insights - Retail sales of passenger vehicles from September 1-22, 2024, reached 1.243 million units, marking a 10% increase year-on-year and month-on-month [22]. - The inventory level of automotive dealers decreased, with a comprehensive inventory coefficient of approximately 1.16 in August 2024 [4]. 2. Market Review - The automotive sector's performance was weaker than the overall market, with a trading volume of 254.2 billion yuan during the week [5]. - The automotive services sector experienced the highest increase at 12.19%, while motorcycles and others saw the smallest increase at 6.37% [7]. 3. Industry Data Tracking 3.1. Monthly Sales - In August 2024, total automotive sales were approximately 2.453 million units, with a month-on-month increase of 8.5% but a year-on-year decrease of 5% [14]. - New energy vehicle sales in August 2024 reached about 1.1 million units, with a market share of approximately 44.8% [18]. 3.2. Weekly Sales - From September 1-22, 2024, wholesale sales of passenger vehicles were 1.373 million units, reflecting a year-on-year increase of 5% and a month-on-month increase of 31% [22]. 3.3. Sales Outlook - The report forecasts that the retail market for narrow passenger vehicles in September 2024 will be around 2.1 million units, with a projected new energy vehicle retail of approximately 1.1 million units [23]. 3.4. Raw Material Price Tracking - As of September 27, 2024, the price of battery-grade lithium carbonate was approximately 75,600 yuan per ton, reflecting a 2% change from the previous week [24]. 4. Industry Dynamics - Notable collaborations include Great Wall Motors signing a comprehensive cooperation agreement with Huawei to enhance marketing and user experience [29]. 5. New Vehicle Launches - New models such as the Avita 07 and XPeng G9 Pro were launched during the week of September 26, 2024 [30]. 6. Company Dynamics - Significant announcements include BYD's plan to introduce a new seven-seater model in the Japanese market, expanding its product line [29].