汽车行业周观点（1216-1220）：弹性关注机器人，价值关注整车

Investment Rating - The industry rating is "Outperform the Market" [10] Core Insights - The automotive industry is experiencing strong retail and wholesale growth, with retail sales of passenger cars reaching 1.083 million units in the first half of December, a year-on-year increase of 34% [1] - The report highlights the increasing focus on robotics within the automotive sector, with companies like BYD and NIO actively expanding their robotics capabilities [3][5] - The report anticipates a continued rise in market share for domestic brands, particularly in the luxury segment, driven by policy support and product innovation [21] Summary by Sections Industry Changes - As of December 19, nearly 2.7 million vehicles have been scrapped, and over 3.1 million vehicles have been replaced nationwide [1] - NIO launched its ET9 model and introduced a new brand, "Firefly" [1] - CATL is expanding its battery swap network with the launch of the "Chocolate" battery swap ecosystem [1] Market Performance - The automotive index saw a decline of 1% this week, ranking 8th out of 31 sectors [31] - The Wind Robotics Index decreased by 2.62%, ranking 191st out of 308 [2] Investment Recommendations - Recommended stocks include major players in the automotive sector such as BYD, Geely, and Li Auto, which are expected to benefit from strong fundamentals and market positioning [21][32] - Focus on companies with robotics integration, such as Siasun Robot & Automation and other domestic robotics firms [4][32] Future Outlook - The report suggests that the automotive sector will continue to grow, particularly with the anticipated rollout of new policies and products in 2024 [21] - The integration of advanced driving technologies and robotics is expected to create new investment opportunities within the automotive supply chain [32][33]