汽车行业研究周报：2024Q3汽车行业基金持仓环比微增

Investment Rating - The report maintains an "Overweight" rating for the automotive industry [4] Core Insights - In Q3 2024, the automotive industry fund holdings increased slightly, with the total market capitalization of the automotive sector at approximately 3.49 trillion, accounting for about 3.6% of the total A-share market capitalization [8][10] - BYD remains a key investment target, leading in both the number of funds holding its shares (782) and the market value of fund holdings (45.3 billion) [10][11] - The report highlights a significant increase in fund holdings for BYD, with a market value increase of 9.28 billion and a 0.3% increase in the proportion of shares held [10][11] - The report suggests focusing on undervalued leading companies in the automotive sector due to performance improvements, particularly in the electric and intelligent vehicle segments [2][13] Summary by Sections Fund Holdings Analysis - In Q3 2024, the automotive sector's fund holdings increased by 0.1 percentage points to 4.5% of total fund holdings, with an overweight ratio of 0.9% [8][10] - The top three companies by fund holding numbers are BYD, Sailun Tire, and Yutong Bus [10] - The report notes significant increases in holdings for companies like Wanfeng Aowei, Wan'an Technology, and Guoji Automobile [10][11] Investment Strategy and Focus - The report recommends focusing on undervalued leading companies in the automotive sector, particularly those with stable performance and advantages in the new energy vehicle market, such as BYD, Changan Automobile, and Geely [2][13] - Key focus areas include core companies in electric and intelligent vehicle segments, as well as domestic substitution opportunities [2][15] Market Review - The automotive sector experienced a weekly increase of 3.51%, outperforming the CSI 300 index [16][18] - The report details weekly performance across sub-sectors, with automotive services and parts showing notable gains [16][19]