汽车行业定期报告：车企淘汰赛加剧，重磅新车亮相工信部公告

Investment Rating - The report maintains an "Outperform" rating for the automotive industry, indicating expected returns above the market benchmark by more than 5% over the next 6 to 12 months [1][69]. Core Insights - The automotive industry is experiencing intensified competition, with several new models set to launch in 2024, which may impact market dynamics [10][11]. - The report highlights the challenges faced by emerging electric vehicle manufacturers, particularly the case of Jiyue Auto, which is struggling with low sales and potential dissolution [10][11]. - Recent data shows a significant increase in retail and wholesale sales of passenger vehicles, with retail sales for the first week of December reaching 502,000 units, a 32% year-on-year increase [30][31]. Summary by Sections 1. Weekly Topic: Intensified Competition Among Automakers - Jiyue Auto is attempting to navigate financial challenges and has announced a shift to a "2.0 stage" of entrepreneurship, but faces severe competition and low sales figures [10][11]. - The Ministry of Industry and Information Technology has announced new vehicle models that will be launched in 2024, indicating ongoing competition in the market [11][12]. 2. Market Performance - From December 9 to December 13, the automotive sector increased by 0.7%, outperforming the CSI 300 index by 1.7 percentage points [14][20]. - Year-to-date, the automotive sector has risen by 19.2%, ranking 7th among 31 sectors [14][20]. 3. Key Industry Data 3.1 Vehicle Sales Data - Retail sales of passenger vehicles for December 1-8 reached 502,000 units, a 32% increase year-on-year, while wholesale sales were 565,000 units, up 55% year-on-year [30][31]. - New energy vehicle retail sales for the same period were 255,000 units, reflecting a 72% year-on-year increase [30][31]. 3.2 Overall Production and Sales - In November, total vehicle sales reached 3.316 million units, with a year-on-year increase of 11.7% [34]. - Year-to-date, total vehicle sales are 27.94 million units, showing a 3.7% increase compared to the previous year [34]. 4. Industry News - Nvidia is under investigation for potential antitrust violations, which may have implications for the automotive technology sector [62]. - A strategic partnership between Pony.ai and GAC Aion aims to develop a Robotaxi platform, with the first models expected to launch in 2025 [62]. - BYD anticipates achieving a total of 4.25 million new energy vehicle sales in 2024, reflecting strong growth in the sector [64].