汽车行业周报：预计11月乘用车零售销量同环比向上，继续关注华为链及T链相关公司

Investment Rating - The report maintains a neutral rating for the automotive and parts industry [5] Core Insights - The China Passenger Car Association estimates that retail sales of narrow-sense passenger cars in November will be approximately 2.4 million units, representing a year-on-year increase of 15.4% and a month-on-month increase of 6.1% [2][15] - Retail sales of new energy passenger cars are expected to reach about 1.28 million units in November, with a year-on-year growth of 52.2% and a month-on-month growth of 7.0%, leading to a penetration rate of approximately 53.3% [2][15] - The effects of the vehicle replacement and trade-in policies continue to be released, with over 2 million applications for subsidies submitted by November 18, contributing to a more than 50% year-on-year increase in the number of scrapped vehicles recovered from January to October [2][15] - The Ministry of Commerce plans to develop next year's vehicle replacement policies in advance, which is expected to stabilize market expectations and promote a steady recovery in the automotive market [16] - The launch of the Zun Jie S800, a luxury sedan developed by Huawei and JAC Motors, is scheduled for November 26, 2024, and is anticipated to compete strongly in the high-end market [17] Summary by Sections Market Trends - The automotive sector's performance is expected to remain strong due to the ongoing effects of the vehicle replacement policies and events like "Double Eleven" and the Guangzhou Auto Show [2][15] - The automotive industry has seen a positive trend in sales, with significant growth in both traditional and new energy vehicles [18] Investment Strategy - The report suggests focusing on companies with strong performance in the third quarter and those with high growth certainty, particularly in the automotive and parts sectors [18] - Recommended companies include BYD, JAC Motors, Changan Automobile, China National Heavy Duty Truck Group, SAIC Motor, and Yutong Bus, among others [19] Sales Tracking - From November 1 to 17, the wholesale sales of passenger cars reached 1.271 million units, a year-on-year increase of 37% [30] - Retail sales during the same period were 1.106 million units, reflecting a year-on-year growth of 30% [30]