汽车与汽车零部件行业周报、月报：边际改善的汽车行业

Investment Rating - The report maintains a positive investment recommendation for the automotive and auto parts industry, highlighting the potential for marginal improvements in sales and performance [2][4]. Core Insights - The automotive industry experienced a slowdown in growth during Q3 2024, with a decline in revenue and profit for listed companies. Q3 production and sales figures were 7.574 million and 7.524 million vehicles, respectively, representing year-on-year decreases of 3.22% and 3.87%. The overall revenue for the automotive sector was 967.408 billion yuan, down 0.25%, and net profit attributable to shareholders was 37.069 billion yuan, down 10.13% [1]. - In October 2024, there was a significant increase in sales driven by policies promoting vehicle trade-ins. The wholesale volume of passenger cars reached 2.774 million units, a year-on-year increase of 13%, while cumulative wholesale for the year reached 21.219 million units, up 5% [1][12]. - The report anticipates continued high demand in November due to ongoing policy support and the approaching end of the vehicle trade-in program [1]. Summary by Sections Weekly Market Review (2024.11.2-11.8) - The automotive sector saw a weekly increase of 7.29%, outperforming the Shanghai and Shenzhen 300 index by 1.79 percentage points. All sub-sectors experienced gains, with automotive services leading at 10.70% [8][9]. Data Tracking (2024.11.1-2024.11.7) - Passenger car retail sales in October were 2.361 million units, up 16% year-on-year, while cumulative retail for the year reached 17.936 million units, a 4% increase [12]. - New energy vehicle retail sales in October were 1.284 million units, a 67% year-on-year increase, with cumulative retail for the year at 8.416 million units, up 41% [12]. Industry News (2024.11.1-2024.11.7) - BYD's Tengshi Z9 is set to launch at the Guangzhou Auto Show on November 15, 2024, showcasing advanced features and design adjustments based on consumer feedback [20]. - Li Auto reported a record delivery of over 152,800 vehicles in Q3 2024 and announced the opening of its 1,000th supercharging station [21]. - Zeekr Energy received qualification as a virtual power plant aggregator in Shenzhen, enhancing its energy management capabilities [22]. Other Industry Data Tracking - The used car market in China saw 14.22 million transactions in the first nine months of 2024, a 5% increase year-on-year, with a transaction value of 939.2 billion yuan, up 9% [17][18]. - Chinese automotive exports showed strong growth, with 192,000 units sold overseas in the first nine months of 2024, a 47% increase year-on-year [19].