汽车与零部件行业周报：10月汽车销量同比+7%，尊界将于11月26日发布

Investment Rating - The industry investment rating is "Overweight (Maintain)" [1] Core Viewpoints - The automotive market showed strong performance in October 2024, with total vehicle sales reaching 3.053 million units, a year-on-year increase of 7.0% [4][26] - New energy vehicle (NEV) sales in October 2024 reached 1.43 million units, up 49.6% year-on-year, with a penetration rate of 46.8% [4][28] - The report highlights the impact of government policies, such as the vehicle replacement subsidy, which has driven demand for new energy vehicles [5][45] Summary by Sections Market Review - The automotive sector experienced a decline of 2.46% over the past week, while the Shanghai Composite Index fell by 3.29% [3][17] - Among sub-sectors, passenger vehicles performed best with a slight increase of 0.71% [3][19] Industry Data Tracking - In October 2024, the production and sales of automobiles were 2.996 million and 3.053 million units, respectively, with year-on-year growth of 3.6% and 7.0% [4][26] - NEV sales reached 1.43 million units in October, with pure electric vehicles at 842,000 units and plug-in hybrids at 587,000 units, showing significant growth [4][28] Recent Industry/Key Company Dynamics - The report notes that the government’s vehicle replacement policy has led to over 1.886 million applications for subsidies, indicating strong consumer interest [45] - Key developments include the launch of new models such as the BYD Leopard 8, which features advanced driving technology in collaboration with Huawei [8][49] Recent New Car Launches - The BYD Leopard 8 was launched on November 12, 2024, with prices ranging from 379,800 to 407,800 yuan [55][57] Investment Recommendations - Recommendations include focusing on companies that are advancing in hybrid and overseas markets, such as Changan Automobile, Great Wall Motors, BYD, and Jianghuai Automobile [9][57] - For parts suppliers, attention is drawn to companies involved in automotive intelligence and lightweighting, such as Bertel, Baolong Technology, and Top Group [9][57]