汽车行业专题：砥砺前行，智驾3.0时代份额为先

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The report highlights that the development of high-level intelligent driving functions is being driven by policies, with the intelligent driving and intelligent networking sectors entering a phase of resonance [3][27] - The competition in the intelligent driving sector is intensifying, with domestic automakers striving to capture market share by launching basic versions of intelligent driving without lidar, targeting the lower price segments [4] - The report emphasizes that the sales and operational competitiveness of automakers are increasingly linked to their intelligent driving capabilities, with Tesla expected to enter the European and Chinese markets with its Full Self-Driving (FSD) technology [5] Summary by Sections 1. Policy Promotion of High-Level Intelligent Driving Functions - The intelligentization index has shown a fluctuating upward trend, with a notable increase in high-end models and new energy vehicles [18] - The networking index has also seen steady improvement, with the latest figures indicating a historical high [19] - The definitions of intelligentization and networking have been adjusted, making it more challenging for high-sales models to meet the criteria for intelligentization [22] 2. Rapid Popularization of Intelligent Driving - Domestic automakers are actively pursuing market share in the intelligent driving sector, with significant advancements in sensor suite solutions [4] - The report notes that the penetration rate of advanced parking assistance (APA) features is expected to reach 20.6% in Q1-Q3 of 2024, while high-level automated parking features remain under 2% [4] - The report suggests that 2025 will be a pivotal year for the widespread adoption of basic intelligent driving experiences, with a focus on market recognition of intelligent driving labels [7] 3. Intelligent Driving Functions: Market Competitiveness of Automakers - Tesla's global sales are projected to reach approximately 1.79 million units in 2024, with China becoming its largest market [5] - Domestic automakers are making significant strides in technology development, with companies like Xiaopeng and NIO launching new models and technologies [5] - The report highlights the importance of intelligent driving features in enhancing the sales performance of various models [5] 4. Intelligent Driving Driving Core Component Penetration - The report anticipates a significant increase in lidar deliveries, with an expected total of 1.5 million units for the year [6] - The installation of millimeter-wave radar is also on the rise, with a year-on-year increase of 11.5% expected in H1 2024 [6] - The market for vehicle-mounted cameras is expanding, with a projected installation volume of 64.21 million units in Q1-Q3 of 2024, reflecting a year-on-year growth of 32.6% [6] 5. Related Component Companies in the Intelligent Driving Sector - The report suggests monitoring companies involved in the supply of intelligent driving components, such as SUTENG, Hesai Technology, and Desay SV [7]