海外新能源车销量月报：10月美国销量同比+15%，欧洲同比微降

Investment Rating - The report maintains an "Outperform" rating for the industry [1]. Core Insights - In October 2024, the U.S. saw a year-on-year increase of 15.4% in new energy vehicle (NEV) sales, while Europe experienced a slight decline of 0.2% [2][6]. - The report highlights significant growth potential in the European electric vehicle market due to carbon emission policies expected to drive sales from 2025 to 2030 [2][6]. - Emerging markets are rapidly increasing their electrification rates, with strong competitive advantages for domestic brands transitioning from vehicle exports to production capacity exports [2][6]. Summary by Sections Europe - In October 2024, NEV sales in Europe reached 188,887 units, a decrease of 0.2% year-on-year, with a cumulative sales figure of 1.766 million units from January to October, down 4.0% year-on-year [2][6]. - The penetration rate for NEVs in Europe was 23.6% in October, reflecting a year-on-year increase of 0.3 percentage points [2][6]. United States - The U.S. NEV sales in October 2024 totaled 139,000 units, marking a year-on-year increase of 15.4% [2][6]. - The penetration rate for NEVs in the U.S. was 10.5% in October, with a cumulative sales increase of 7.0% year-on-year for the first ten months of 2024 [2][6]. Emerging Markets - In September 2024, NEV sales in emerging markets were 89,000 units, showing a slight decline of 1.5% year-on-year [2][6]. - The report notes that the cumulative sales for the first nine months of 2024 in emerging markets showed a marginal decrease of 0.1 percentage points in penetration rate [2][6]. Investment Recommendations - The report suggests focusing on companies such as Leap Motor, BYD, CATL, and others in the battery supply chain, which are expected to benefit from the growth in overseas markets [2][6].