汽车行业周动态：小鹏P7+上市，特斯拉成为首批获得“汽车隐私保护”标识的车企

Investment Rating - The report maintains an "Overweight" rating for the automotive sector, suggesting an increase in allocation to automotive stocks [2]. Core Insights - The automotive sector is expected to see an upward trend in fundamentals supported by policy measures, with a significant impact from the "old-for-new" vehicle replacement policy and new car launches in Q4 [7]. - The report highlights the competitive pricing and advanced features of the newly launched Xiaopeng P7+, which is seen as a potential turning point for Xiaopeng Motors' sales [5][6]. - Tesla has become one of the first companies to receive the "Automotive Privacy Protection" label, indicating compliance with national standards in China [6]. Summary by Sections Weekly Dynamics - Xiaopeng P7+ was launched on November 7, with a starting price of 186,800 CNY, and received over 31,528 pre-orders within 24 hours [5]. - Tesla was recognized for its compliance with privacy standards, becoming the only foreign company to meet these requirements in China [6]. Market Performance - For the period from November 1 to November 8, 2024, the automotive sector outperformed the market, with the automotive index rising by 7.3% compared to the Shanghai Composite Index's 5.5% [8]. - The automotive sector's PE-TTM (unadjusted) was reported at 29.8, with sub-sectors showing varying historical valuation percentiles [8]. Recommendations - The report recommends increasing exposure to automotive stocks, particularly in the complete vehicle segment with companies like BYD, Great Wall Motors, and Changan Automobile, and in the parts segment with companies like Fuyao Glass and Top Group [7].