汽车行业周报：9月乘用车零售环比+8%，特斯拉发布无人驾驶出租车Cybercab

Investment Rating - The overall investment rating for the automotive industry is "Outperform the Market" [1][42]. Core Insights - The automotive sector experienced a decline of 4.57% from October 8 to October 11, underperforming the CSI 300 index by 1.32 percentage points. The passenger vehicle segment fell by 4.07%, while the commercial vehicle segment decreased by 1.52%, outperforming the index by 1.73 percentage points [1][35]. - The PE-TTM for the automotive industry as of October 11 is 23.35, an increase of 0.85 from the previous week. The valuations for passenger vehicles, commercial vehicles, and auto parts are 26.32, 34.76, and 20.28, respectively [2][10][35]. - In September, retail sales of passenger vehicles increased by 2% year-on-year and 8% month-on-month, totaling 2.063 million units. Cumulative retail sales for the year reached 15.529 million units, also up by 2% [2][36]. Summary by Sections Market Review - The automotive sector's performance from October 8 to October 11 showed a significant decline, with the overall market down 4.57% and the passenger vehicle segment down 4.07% [1][8][35]. - The commercial vehicle segment showed resilience, with a slight decline of 1.52%, outperforming the index [1][35]. Valuation Levels - As of October 11, the automotive industry's PE-TTM is 23.35, reflecting a slight increase. The passenger vehicle segment's valuation rose by 1.07% [2][10][35]. Sales Performance - In September, the retail sales of new energy vehicles surged by 51% year-on-year, indicating strong market demand [2][36].