汽车行业周报：增量政策助力消费信心恢复，销量有望增长

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The automotive sector has shown a market performance decline of -21% over the last 12 months, while the Shanghai Composite Index has decreased by -12% [2] - Recent consumer confidence has been bolstered by incremental policies, leading to an expected increase in sales [3] - The retail sales of passenger vehicles from October 1 to 13 reached 823,000 units, a year-on-year increase of 20% [5] - The wholesale of passenger vehicles during the same period was 713,000 units, also reflecting a 20% year-on-year growth [5] Industry Dynamics - Several new car models were launched between October 13 and 18, including the Ford Lingrui, which was priced between 126,800 to 165,500 yuan [11] - The new models include the Qichen VX6, Honda Haoying series, and Blue Electric E5 PLUS, with various pricing and specifications [12][14][15] Sub-industry Insights - Passenger Vehicles: The retail market for new energy vehicles saw a significant year-on-year increase of 64% in sales, totaling 408,000 units from October 1 to 13 [5] - Commercial Vehicles: Sales of new energy heavy trucks in September reached 7,883 units, marking a year-on-year growth of 148% [5] Performance of Sub-sectors - From October 14 to 18, the automotive sector's relative return was 0.29%, with commercial vehicles showing a strong relative return of 4.30% [4] - The top-performing companies in the passenger vehicle sector during this period included Haima Automobile, BAIC Blue Valley, and BYD [16] Financial Performance - The financial performance of leading companies in the passenger vehicle sector showed varied results, with Haima Automobile reporting a total revenue of 2.584 billion yuan and a year-on-year growth of 7.25% [17] - In the commercial vehicle sector, Jianghuai Automobile led with a stock increase of 22.22% during the same period [18]