汽车行业周报：特斯拉WeRobot发布会召开，小鹏P7+正式亮相

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [1] Core Insights - The automotive sector has underperformed compared to the Shanghai Composite Index, with a weekly decline of 4.6% from October 8 to October 11, 2024, while the Shanghai Composite Index fell by 3.6% [2][12] - New vehicle launches and supportive policies are expected to enhance retail sales in October, leading to a positive outlook for the automotive sector [10][11] Summary by Sections Recent Developments - Tesla unveiled its autonomous vehicle Cybercab, the Robovan, and the Optimus humanoid robot at the "WE, ROBOT" event on October 11, 2024. The Cybercab is designed without a steering wheel or pedals and will support Tesla's Full Self-Driving (FSD) system, with plans for a full rollout by 2026 [3][8] - Xiaopeng Motors introduced the P7+, which features a new design and advanced AI driving capabilities, set to launch in November 2024 [9] Market Performance - The automotive sector's performance from October 8 to October 11, 2024, showed a decline across various segments: passenger cars down 4.1%, commercial vehicles down 1.5%, auto parts down 5.3%, and automotive services down 6.2% [12] - In the Hong Kong market, the stock performance of major automotive companies varied, with Li Auto down 9.9% and Xiaopeng up 0.7% during the same period [2] Industry Indicators - In September 2024, the automotive production and sales reached 2.796 million and 2.809 million units, respectively, with a month-on-month increase of 12.2% and 14.5%. Year-on-year, production and sales decreased by 1.9% and 1.7% [30][42] - New energy vehicles accounted for 45.8% of total new car sales in September, with production and sales of 1.307 million and 1.287 million units, reflecting a year-on-year growth of 48.8% and 42.3% [30][42] Recommendations - The report suggests focusing on companies within the Huawei ecosystem, such as Jianghuai Automobile and BAIC Blue Valley, as well as established brands like BYD, Great Wall Motors, and Changan Automobile, which are expected to benefit from the improving market conditions [10][11] - For commercial vehicles, Yutong Bus is highlighted due to its high dividend yield and benefits from the vehicle replacement policy [11] - In the auto parts sector, companies like Xingyu Co., Ruihu Mould, and others in the intelligent driving supply chain are recommended [11]