智驾月报：10月车市环比向好，文远知行上市

Investment Rating - The report maintains a "Positive" investment rating for the industry [3][7]. Core Insights - The passenger car market showed significant improvement during the National Day holiday, with October passenger car sales increasing by 11.3% year-on-year. The total retail sales for October reached 2.261 million units, with a year-to-date total of 17.835 million units, reflecting a 3.2% increase compared to the previous year. The penetration rate of new energy vehicles (NEVs) reached 52.9% in October [5][14][17]. - Qualcomm launched two new automotive chip products at the Snapdragon Summit, significantly enhancing performance with a threefold increase in speed for the Oryon CPU and Adreno GPU, and a twelvefold increase for the NPU [6][36]. - WeRide, a leading autonomous driving company, successfully listed on NASDAQ, becoming the first publicly traded robotaxi company in China, with a focus on commercializing autonomous taxi services by early 2025 [6][38]. Summary by Sections October Car Market - The passenger car market experienced a notable increase in sales during the National Day holiday, with a year-on-year growth of 11.3% in October. The retail sales for the month reached 2.261 million units, marking a 7.2% month-on-month increase. Year-to-date sales totaled 17.835 million units, up 3.2% year-on-year. Traditional fuel vehicle sales saw a decline of 16.1% year-on-year, while NEVs achieved a penetration rate of 52.9% [14][17][22]. Connectivity Index and WeRide Listing - The connectivity index reached a new high in September 2024, with the new four modernization index at 53.6. The index for electrification was 53.3, while the connectivity index was 24.4. WeRide's successful listing on NASDAQ marks a significant milestone for the autonomous driving sector in China [26][38]. Investment Recommendations - The report suggests focusing on companies with strong positions in automotive intelligence and leading software capabilities, including Ruiming Technology, Huace Navigation, Desay SV, Joyson Electronics, Zhongke Chuangda, and Jingwei Hirain [7][40].