汽车行业周报：24年11月狭义乘用车零售市场约240万辆

Investment Rating - The report maintains an "Overweight" rating for the automotive industry [4][13]. Core Insights - The retail market for passenger vehicles is projected to reach approximately 2.4 million units in November 2024, reflecting a year-on-year increase of 15.4% and a month-on-month increase of 6.1% [43]. - The report highlights a robust growth in demand for electric vehicles, with a market share of about 46.8% in October 2024 [14][44]. - The report suggests focusing on companies that lead in smart technology and are aligned with the technology and model cycles, such as XPeng Motors, BYD, Xiaomi Group, and Leap Motor [13][14]. Market Review - In the week from November 18 to November 22, 2024, the automotive sector experienced a decline of 2.17%, ranking 20th among all primary industries [15][20]. - The smallest decline was observed in the automotive services sector, while the largest was in the passenger vehicle segment, which fell by 3.61% [20] [21]. Industry Data Tracking Monthly Sales - In October 2024, total automotive sales were approximately 3.053 million units, with a month-on-month increase of 8.7% and a year-on-year increase of 7% [32][34]. - Passenger vehicle sales for the same month were about 2.755 million units, reflecting a month-on-month increase of 9.1% and a year-on-year increase of 10.7% [34]. Weekly Sales - From November 1 to November 17, 2024, retail sales in the passenger vehicle market reached 1.106 million units, marking a year-on-year increase of 30% and a month-on-month increase of 3% [42]. Outlook - The report anticipates that the passenger vehicle retail market will reach around 2.4 million units in November 2024, with electric vehicle sales expected to hit 1.28 million units, achieving a penetration rate of approximately 53.3% [43]. Raw Material Price Tracking - As of November 22, 2024, the price of battery-grade lithium carbonate was approximately 79,100 CNY per ton, reflecting a 1% increase from November 15, 2024 [44]. - The price of copper was about 74,030 CNY per ton, unchanged from the previous week [44]. Industry Dynamics - Notable developments include the anticipated production start of BYD and BMW's factory in Hungary in the second half of 2025 [51]. - The report mentions significant collaborations, such as the partnership between Zhiji and NVIDIA for advanced driving solutions [51]. New Vehicle Launches - New models launched include Chery's Fengyun T9, FAW-Volkswagen's Audi A6L, and GAC's Trumpchi GS8, with respective launch dates in November 2024 [54]. Company Announcements - Tiancheng Control announced plans to invest up to 400 million CNY in establishing a production base in Thailand [56]. - Multiple companies, including Doli Technology and Huapai Power, have made significant announcements regarding new projects and investments [56].