汽车行业周报：特斯拉Robotaxi亮相，有望引领智驾行业加速发展

Investment Rating - The report maintains a neutral rating for the automotive and parts industry [6] Core Insights - In September, the overall sales of passenger cars showed growth both year-on-year and month-on-month, with significant performance in the new energy vehicle (NEV) segment. The wholesale and retail sales of narrow-sense passenger cars reached 2.504 million and 2.109 million units, respectively, representing a year-on-year increase of 2.1% and 4.5%, and a month-on-month increase of 16.1% and 10.6% [11][25] - The NEV segment saw remarkable growth, with wholesale and retail sales of 1.231 million and 1.123 million units in September, marking year-on-year increases of 48.1% and 50.9%, and month-on-month increases of 17.2% and 9.6%. The penetration rates for NEV wholesale and retail reached 49.1% and 53.3%, respectively, showing a year-on-year increase of 15.0 and 16.4 percentage points [11][27] - The export market continued to perform strongly, with passenger car exports (including complete vehicles and CKD) reaching 435,000 units in September, a year-on-year increase of 22% and a month-on-month increase of 5% [11] - Tesla's Robotaxi, named "Cybercab," was officially unveiled, expected to lead the autonomous driving industry. Production is anticipated to start in 2026, with a projected cost below $30,000 and operational costs as low as $0.2 per mile [12] - During the National Day holiday, several NEV companies reported strong order numbers, indicating that the NEV market is likely to maintain high year-on-year growth in October [11][12] Summary by Sections Market Performance - The automotive sector experienced a decline of 4.3% this week, underperforming compared to the CSI 300 index, which fell by 3.3%. The passenger vehicle segment dropped by 3.02%, while the auto parts sector decreased by 4.39% [16] Sales Tracking - In September, the wholesale sales of narrow-sense passenger cars reached 2.504 million units, with a cumulative wholesale sales of 18.444 million units from January to September, reflecting a year-on-year growth of 3.4% [25] - The NEV wholesale sales in September were 1.231 million units, with a cumulative total of 7.910 million units from January to September, showing a year-on-year growth of 33.7% [27] Industry Dynamics - The report suggests continued attention to companies with strong sales performance in the NEV sector, as well as those involved in the Huawei supply chain, T-chain, Xiaomi supply chain, autonomous driving, heavy truck industry, and state-owned enterprises with low valuations and high dividend yields [3][13] Investment Recommendations - Recommended companies include BYD, Jianghuai Automobile, Changan Automobile, China National Heavy Duty Truck Group, SAIC Motor, Yutong Bus, and several others in the auto parts sector [4][14]