汽车行业周报：广州车展新车&智驾新进展密集发布

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [1]. Core Insights - The Guangzhou Auto Show has seen a flurry of new car releases and advancements in intelligent driving technology, which are expected to boost Q4 passenger car sales [1][15]. - The report highlights significant new models such as BYD's Tengshi Z9, priced between 334,800 to 414,800 CNY, and Geely's Galaxy Starship 7 EM-i, which boasts a fuel consumption of only 3.75L per 100km [1][15]. - The report notes that with the introduction of government subsidies for vehicle trade-ins and increased discounts from automakers, the passenger car market is likely to see sustained growth in Q4 [1][16]. Summary by Sections Weekly Insights - The Guangzhou Auto Show has officially opened, showcasing numerous new car models and advancements in intelligent driving technology [15]. - BYD's Tengshi Z9 and Geely's Starship 7 EM-i are among the highlighted new releases, with competitive pricing and advanced technology features [15][16]. Key Industry Dynamics - Electric vehicle advancements include Changan's plan to validate solid-state battery installations by 2027 [18]. - The report mentions the acceleration of intelligent connected vehicle trials by government agencies [21]. - BYD plans to start selling electric passenger cars in South Korea by 2025 [21]. Market Performance - The automotive sector under the Shenwan index has seen a decline of 2.46% from November 11 to November 15, 2024, while the overall market (CSI 300) dropped by 3.29% [29]. - The report indicates that the passenger vehicle segment has outperformed with a slight increase of 0.71% [29]. Data Tracking - In October 2024, retail sales of passenger cars reached 2.261 million units, marking an increase of 11.3% year-on-year [44]. - New energy vehicle retail sales reached 1.196 million units, up 55.0% year-on-year, with a penetration rate of 52.9% [52]. - The report highlights that the sales of plug-in hybrid vehicles have shown significant growth, with a year-on-year increase of 99.0% [57].