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汽车行业定期报告：特斯拉举办Robotaxi Day，地平线拟赴港上市
Huafu Securities·2024-10-13 13:34

Investment Rating - The industry is rated as "Outperform the Market" [3][51]. Core Insights - Tesla's "Robotaxi Day" showcased significant advancements in autonomous driving technology, including the introduction of the Cybercab and Robovan, marking a milestone in the commercialization of autonomous driving services, although specific timelines remain undisclosed [2][7]. - Horizon Robotics is preparing for its IPO in Hong Kong, aiming to issue up to 115.35 million shares, and has demonstrated substantial revenue growth, with a compound annual growth rate of 82.3% from 2021 to 2023 [2][9]. - The automotive sector has faced a decline of 4.6% from October 8 to 11, 2024, underperforming the CSI 300 index by 1.3 percentage points, while year-to-date performance shows a 6.9% increase, ranking 8th among 31 sectors [10][11]. Summary by Sections 1. Weekly Highlights - Tesla's "Robotaxi Day" introduced the Cybercab and Robovan, with production expected to start in 2026 at a cost below $30,000 [7]. - Horizon Robotics is set to list on the Hong Kong Stock Exchange, with a focus on advanced driver assistance and autonomous driving solutions [2][9]. 2. Market Performance - The automotive sector declined by 4.6% from October 8 to 11, 2024, while the CSI 300 index fell by 3.3% [10]. - Year-to-date, the automotive sector has increased by 6.9%, ranking 8th among 31 sectors [10]. 3. Key Industry Data - Retail sales of passenger vehicles in September 2024 reached 2.063 million units, a 2% year-on-year increase [20]. - Wholesale sales for the same period were 2.469 million units, reflecting a 1% year-on-year growth [20]. - New energy vehicle retail sales in September were 1.12 million units, up 51% year-on-year [20]. 4. Industry News - The EU has approved tariffs on Chinese electric vehicles, which could escalate trade tensions [39]. - The Chinese government is considering increasing tariffs on imported large-displacement fuel vehicles [40]. - Xiaopeng's P7+ was unveiled as China's first AI car, expected to launch in Q4 2024 [41].