汽车周动态：国内主要新能源车企公布10月销量；小米城市NOA开启推送，SU7 Ultra量产版亮相

Investment Rating - The report maintains an "Overweight" rating for the automotive sector, with specific recommendations to increase allocation in automotive stocks [1][9]. Core Insights - The automotive sector is expected to experience upward momentum, driven by policies promoting vehicle trade-ins and new car launches, which are anticipated to boost retail sales [9][10]. - The report highlights significant sales growth among major electric vehicle manufacturers, with BYD achieving over 503,000 units sold in October, marking a year-on-year increase of 66.52% [7][27]. - The report suggests that the price war among luxury and joint venture brands is likely to slow down, indicating a stabilization in pricing strategies [9]. Summary by Sections Recent Developments - Major domestic electric vehicle manufacturers reported October sales, with BYD leading at 503,000 units, followed by significant growth from other brands like Seres and Xiaomi [7][27]. - Xiaomi introduced its city NOA feature and showcased the SU7 Ultra, which aims to be the fastest four-door production car [8][28]. Market Performance - The automotive sector outperformed the broader market during the period from October 25 to November 1, with the automotive index declining by only 0.4% compared to a 0.8% drop in the Shanghai Composite Index [10]. - The report notes a weekly trading volume increase in the automotive sector, indicating heightened investor interest [10]. Valuation Metrics - As of the reporting period, the automotive sector's PE-TTM (unadjusted) stands at 27.9, with historical valuation percentiles indicating a relatively high valuation compared to historical averages [10][14]. - Sub-sectors such as passenger vehicles and commercial vehicles have PE-TTM values of 28.4 and 38.7, respectively, with varying historical valuation percentiles [10][14]. Stock Recommendations - The report recommends specific stocks for investment, including BYD, Great Wall Motors, and Li Auto in the vehicle segment, and Fuyao Glass and Kobot in the parts segment, citing strong performance and growth potential [9][10].