汽车行业一周一刻钟，大事快评：日韩见闻&特斯拉FSD

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [17]. Core Insights - The changes in population structure and market competition in Japan and South Korea, along with Japan's government policies in labor and real estate, have shaped the current economic environment in both countries [4][5]. - There are significant differences in consumer attitudes towards automobiles in Japan and South Korea, with South Korean consumers showing a higher acceptance of new technologies and a focus on cost-effectiveness, while Japanese consumers are more conservative and prioritize resale value [6][7]. - Tesla's Full Self-Driving (FSD) is expected to enter the Chinese market in Q1 2025, with localization optimization being a key issue. The performance of FSD in China's complex road conditions will be critical for its market acceptance [8][9]. Summary by Sections Japan and South Korea Economic Environment - Japan's labor market is characterized by a relaxed work environment and low competition due to demographic changes, particularly post-2020 pandemic [5]. - South Korea faces similar demographic challenges, with a low birth rate impacting the job market and living costs [5]. Automotive Consumer Behavior - In South Korea, local brands have moderate market share, but vehicles like the Geely Xingyue L have performed well, indicating a consumer preference for value [6]. - In contrast, Japanese consumers are cautious, focusing on brand reputation and long-term costs, which poses challenges for Chinese brands like BYD [6][7]. Investment Opportunities - The report recommends focusing on domestic strong alpha manufacturers such as BYD and Geely, as well as companies involved in smart technology and parts suppliers with strong growth potential [4][8].