汽车与汽车零部件行业深度报告：从新车规划看2025年市场增长动能

Industry Investment Rating - The report provides a detailed analysis of the automotive industry, focusing on various price segments and the penetration rate of new energy vehicles (NEVs) [4][19][46][63] Core Views - The 20-25万元 price segment shows a lower NEV penetration rate compared to the industry average, with significant room for growth [4] - The 25-30万元 price segment has a high NEV penetration rate, nearing 80%, with Tesla Model 3, Li Auto L6, and AITO M7 being popular models [31] - The 30-40万元 price segment is a key area for high-end vehicles, with NEV penetration steadily increasing, led by Tesla Model Y, Li Auto L7, and NIO ET5 [46][54] - The 40万元以上 price segment is dominated by traditional luxury brands like Audi, BMW, and Mercedes-Benz, with NEV penetration still having room for growth [63][66] Market Segmentation and Key Players 20-25万元 Segment - NEV penetration is 32.8% in 2024Q1-Q3, with BYD Han and BYD Tang being popular models [4] - BYD leads the pure electric market with a 37.7% market share, followed by Volkswagen and Hongqi [10] - In the plug-in hybrid (PHEV) market, BYD dominates with a 63.8% market share, followed by Lynk & Co and GAC [12] 25-30万元 Segment - NEV penetration is 78.4% in 2024Q1-Q3, with Tesla Model 3, Li Auto L6, and AITO M7 leading the market [31] - AITO, Tesla, Zeekr, and Li Auto are the top brands, with Tesla Model 3 being the best-selling model [33] - In the PHEV market, AITO and Li Auto lead with market shares of 37.2% and 32.5%, respectively [42] 30-40万元 Segment - NEV penetration is 47.6% in 2024Q1-Q3, with Tesla Model Y, Li Auto L7, and NIO ET5 being the top models [46] - Tesla leads the pure electric market with a 53.9% market share, followed by NIO [54] - In the PHEV market, Li Auto dominates with a 54.0% market share, followed by AITO and Tank [57] 40万元以上 Segment - NEV penetration is 32.5% in 2024Q1-Q3, with AITO M9, Denza D9, and Li Auto L9 being popular models [63] - Traditional luxury brands like Audi, BMW, and Mercedes-Benz dominate, with AITO, Li Auto, and Denza leading in NEVs [66] - In the PHEV market, AITO leads with a 32.3% market share, followed by Li Auto and Denza [77] Future Outlook and New Models - In the 25-30万元 segment, new models like the Great Wall WEY SUV, BYD Xia MPV, and Chery Fengyun T11 are expected to launch in 2025 [44] - In the 30-40万元 segment, new models from BYD, Geely, and XPeng are anticipated, including the Denza N9, Zeekr large SUV, and XPeng large SUV [60] - In the 40万元以上 segment, new models like the Zeekr large SUV, Tank 800, and Yangwang U7 are expected to launch in 2025 [80] Key Automakers' Strategies BYD - BYD plans to launch new models in 2025, including the Xia MPV, Hai Lion 07 DM-i/DM-P, and Shark pickup, with a focus on upgrading its electric platform [84] Geely - Geely's Galaxy brand plans to launch multiple new models in 2025, including the L9 and large SUVs under the Zeekr brand [88] Great Wall - Great Wall is focusing on new platforms and intelligent driving technology, with new models expected from its Haval, ORA, and WEY brands [89][92] Changan - Changan is accelerating its NEV strategy with new models like the Shenlan S09 and Avatr E16, targeting the 20-25万元 price segment [94] XPeng - XPeng plans to launch multiple new models in 2025, including a mid-size SUV and a large SUV, with a focus on intelligent driving technology [97] Li Auto - Li Auto is expanding its product lineup with new pure electric SUVs, including the M7, M8, and M9, expected to launch in 2025 [99] Leapmotor - Leapmotor is targeting the 10-15万元 price segment with new models like the B10, B01, and B05, expected to launch in 2025 [101] Xiaomi - Xiaomi is entering the automotive market with its first SUV model, the YU7, expected to launch in mid-2025, targeting the 20-30万元 price segment [104]