汽车行业动态研究报告：新势力12月销量点评：新车型及年底冲量带动多家车企月交付量创新高

Investment Rating - The report maintains a "Recommended" investment rating for the automotive industry [9][10]. Core Insights - The report highlights that multiple automotive companies have achieved record monthly delivery volumes, driven by new models and year-end sales pushes [6][9]. - The report emphasizes the increasing concentration of market share among leading automotive manufacturers, particularly among new energy vehicle (NEV) companies [9]. Summary by Sections 1. Monthly Delivery Performance - NIO delivered 31,138 vehicles in December, a year-on-year increase of 72.9% and a month-on-month increase of 51.3%, with a total of 221,970 vehicles delivered in 2024, up 38.7% year-on-year [6][19]. - XPeng delivered 36,695 vehicles in December, marking an 82.4% year-on-year increase and an 18.8% month-on-month increase, with a total of 190,068 vehicles delivered in 2024, up 34.2% year-on-year [6][21]. - Li Auto delivered 58,513 vehicles in December, a year-on-year increase of 16.2% and a month-on-month increase of 20.1%, with a total of 500,508 vehicles delivered in 2024, up 33.1% year-on-year [6][23]. - Xiaomi's monthly delivery exceeded 25,000 vehicles in December, with a total of over 135,000 vehicles delivered in 2024, aiming for 300,000 deliveries in 2025 [6][27]. 2. Hongmeng Zhixing Performance - Hongmeng Zhixing delivered 49,474 vehicles in December, a year-on-year increase of 102.2% and a month-on-month increase of 18.0%, with a total of 442,961 vehicles delivered in 2024, up 343.3% year-on-year [30]. 3. Other New Energy Vehicle Companies - Zeekr delivered 27,190 vehicles in December, a year-on-year increase of 101.8%, with a total of 222,123 vehicles delivered in 2024, up 87.2% year-on-year [35]. - Leap Motor delivered 42,517 vehicles in December, a year-on-year increase of 128.4%, with a total of 293,724 vehicles delivered in 2024, exceeding its annual target [37]. - GAC Aion delivered 46,851 vehicles in December, a year-on-year increase of 2.0% and a month-on-month increase of 10.8%, with a total of 412,943 vehicles delivered in 2024, down 15.6% year-on-year [39]. 4. Recommended Stocks - The report recommends focusing on companies with deep cooperation with Huawei, such as Seres and Jianghuai Automobile, and highlights growth opportunities in automotive components, particularly in lightweight materials and smart vehicles [10][42].