汽车行业周报：车市开年表现平稳，建议关注后续爆款潜力新品

Investment Rating - The report maintains a recommendation for the automotive sector, specifically highlighting companies such as BYD and Li Auto as key picks, with additional mentions of Geely and Longxin General as beneficiaries [5][8]. Core Insights - The automotive market is expected to experience stable performance in January, supported by local government and automaker subsidy policies for 2024, with a potential boost from the implementation of the 2025 vehicle trade-in policy on January 17 [12][14]. - Major domestic brands like BYD, Xpeng, and others are set to launch multiple new energy vehicles in the first half of 2025, which are anticipated to enhance market supply and performance due to advancements in electrification and intelligence [12][14]. - The retail sales of passenger vehicles from January 1 to 12 were reported at 533,000 units, reflecting a year-on-year decline of 21%, while wholesale figures showed an increase of 14% [13]. - The report indicates that the market is likely to recover from the effects of the 2024 trade-in policy, with expectations of a narrowing decline in retail sales as the month progresses [13][14]. Market Performance Review - The automotive sector's stock performance showed a weekly increase of 4.38%, ranking 11th among 30 sectors, with sub-sectors such as motorcycles and services performing particularly well [15][19]. - The price-to-earnings ratios for various segments of the automotive industry were reported, with sales and services at 60.82x, motorcycles at 27.79x, and passenger vehicles at 24.83x [19][21]. Industry News Highlights - Huawei launched the world's first commercial pilot for a parking valet system at an airport, enhancing the efficiency of parking and retrieval for travelers [27]. - Leap Motor announced a positive net profit for Q4 2024, becoming the second new force in the automotive sector to achieve profitability [28]. - Shanghai is exploring low-altitude flight application scenarios, which may impact the automotive sector's integration with new technologies [30]. - GAC Group and Huawei are collaborating on a new luxury smart electric vehicle, with plans for a product launch in the near future [31]. - BYD is set to introduce new models based on a new technology platform, with launches planned for March [36].