欧洲汽车市场分析报告：欧洲市场空间广阔，有望成为全新增长点

Investment Rating - The investment rating for the European automotive market is "Positive" (maintained) [1] Core Insights - The European electric vehicle (EV) market is experiencing significant growth, with sales expected to increase from 3.3 million units in 2023 to 5.31 million units by 2028, representing a CAGR of 10.98% [1][9] - The penetration rate of new energy vehicles (NEVs) in Europe is projected to rise to 25% in 2024, with expectations to reach nearly 30% by 2028 [1][9] - Key countries for Chinese EV brands entering the European market include the UK, Germany, Belgium, the Netherlands, and France, based on factors such as vehicle sales scale, NEV penetration rate, disposable income, and market competition [2][17] Summary by Sections Recent Market Performance - In 2023, European NEV sales grew by over 20% year-on-year, reaching 3.3 million units, with a penetration rate of 21% [1][9] - The overall automotive market in Europe saw a recovery, with total sales increasing by 17.71% to 16.88 million units in 2023 [9] Key Factors Influencing Market Growth - The UK has implemented a zero-emission vehicle sales target, increasing from 22% in 2024 to 80% by 2030, while the EU has revised CO2 emission standards [2][3] - Major automotive manufacturers have set clear electrification goals, with Volkswagen increasing its target for pure electric vehicle deliveries from 70% to 80% by 2030 [2][3] Investment Recommendations - The report suggests focusing on companies with strong overseas market strategies, including Leap Motor, BYD, Geely, Changan, and Great Wall Motors, as the NEV penetration rate in Europe has substantial room for growth [3][4]