汽车行业动态研究报告：主流国家11月新能源车销售175.0万辆，同比+40.0%

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [26][27]. Core Insights - The market for electric vehicles (EVs) is showing strong growth, with Battery Electric Vehicles (BEVs) accounting for 61.0% of total new energy vehicle sales, while Plug-in Hybrid Vehicles (PHVs) have decreased by 1.7 percentage points to 39.0%. BEV sales reached 1.068 million units, surpassing the previous record of 983,000 units in December 2023 [6]. - The report highlights that November saw significant growth in new car sales in the U.S., with 1.364 million units sold, representing a year-on-year increase of 9.8% and a month-on-month increase of 2.8% [7]. - The report indicates that the automotive market in China continues to thrive, with November new car sales reaching 2.583 million units, a year-on-year increase of 17.3% and a month-on-month increase of 12.7% [24]. Summary by Sections Industry Performance - The automotive sector has shown a relative performance increase of 3.9% over the past month, 15.5% over the past three months, and 18.8% over the past year, outperforming the CSI 300 index which recorded increases of 1.6%, 7.5%, and 16.0% respectively [1]. Sales and Market Trends - In November, the total sales of new energy vehicles in major countries reached 1.75 million units, marking a year-on-year increase of 40.0% and a month-on-month increase of 9.1%, achieving a historical high [23]. - The cumulative sales of new energy vehicles from January to November reached 13.456 million units, a year-on-year increase of 27.2%, accounting for 23.7% of total vehicle sales [23]. Investment Recommendations - The report suggests focusing on companies with deep collaborations with Huawei, such as Seres and JAC Motors, as well as on automotive parts manufacturers that are expected to benefit from the restructuring of the supply chain and technological changes [26]. - Specific sectors to watch include lightweight components, interior and exterior parts, and smart automotive technologies, with recommended companies including Wencan, Meilixin, and Huayang Group [26].