汽车行业周报：2024年11月新能源汽车销量约151万辆，市占率约46%

Investment Rating - The report maintains an "Overweight" rating for the automotive industry [11][12]. Core Views - The report highlights that the retail sales of passenger cars from December 1 to 8, 2024, reached 502,000 units, representing a year-on-year increase of 32% and a month-on-month increase of 11%. The domestic automotive consumption demand is expected to grow steadily under supportive policies [11][12]. - The report notes that the inventory levels of automotive dealers have decreased compared to September 2024, with a comprehensive inventory coefficient of approximately 1.10 in October 2024 [11]. - The report emphasizes the competitive landscape in the new energy vehicle sector, with a market share of approximately 45.6% in November 2024 [12]. Summary by Sections 1. Market Review - The automotive sector rose by 0.66% from December 9 to 13, 2024, outperforming the overall A-share market, ranking 12th among all primary industries [13][18]. 2. Industry Data Tracking 2.1 Monthly Automotive Sales - In November 2024, total automotive sales were approximately 3.316 million units, with a month-on-month increase of 8.6% and a year-on-year increase of 11.7% [27]. - Passenger car sales in November 2024 were about 3.001 million units, with a month-on-month increase of 9% and a year-on-year increase of 15.2% [32]. - Commercial vehicle sales were approximately 315,000 units, with a month-on-month increase of 5.6% but a year-on-year decrease of 13.9% [32]. 2.2 Weekly Automotive Sales - From December 1 to 8, 2024, retail sales of passenger cars reached 502,000 units, a year-on-year increase of 32% and a month-on-month increase of 11% [42]. - The wholesale of passenger cars during the same period was 565,000 units, with a year-on-year increase of 55% and a month-on-month increase of 6% [42]. 2.3 Automotive Sales Outlook - The narrow passenger car retail market is expected to reach approximately 2.4 million units in November 2024, with a year-on-year increase of 15.4% and a month-on-month increase of 6.1% [43]. 2.4 Raw Material Price Tracking - As of December 6, 2024, the price of battery-grade lithium carbonate was approximately 76,900 yuan per ton, a decrease of 2% from November 29, 2024 [44][47]. - The price of copper was approximately 74,600 yuan per ton, an increase of 1% from November 29, 2024 [47]. 3. Industry Dynamics - The report mentions that Zeekr announced the production of its 400,000th vehicle, and Xiaomi's new SUV, the YU7, is expected to launch in mid-2025 [54]. - SAIC Volkswagen plans to launch 18 new models by 2030, with 15 specifically developed for the Chinese market [54]. 4. New Vehicle Launches - SAIC General's Envision Plus was launched on December 10, 2024, and Dongfeng's Nano 01 was launched on December 12, 2024 [55]. 5. Company Announcements - Wuxi Zhenhua plans to reduce its shareholding by up to 1% through public trading and up to 2% through block trading [57]. - Longhua Group received a development notification from a well-known flying car company for a project expected to generate approximately 91 million yuan in total sales over five years [57].