2024年Q4汽车行业公募基金持仓点评：持仓占比继续提升，资金青睐整车&机器人

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [1] Core Insights - The automotive industry saw a 4.76% increase in Q4 2024, ranking 9th among 30 primary industries. The automotive index outperformed the CSI 300 index by 6.83% [4][10] - The market for passenger vehicles is experiencing strong sales due to the continuation of trade-in subsidies and the impressive performance of new models from companies like Geely and XPeng. Additionally, advancements in Tesla's humanoid robot technology are enhancing investment value in the automotive and robotics sectors [4][10] - The investment value in the automotive sector is expected to remain high in Q1 2025, driven by favorable policies and increased production targets for Tesla's Optimus robot [4] Summary by Sections Market Performance - The automotive industry index (ZX) increased by 6.83% relative to the CSI 300 index in Q4 2024, with sub-sectors such as motorcycles and others showing the highest performance at +12.06% [4][14] - The passenger vehicle sector increased by 9.88%, while the automotive parts sector rose by 7.48% [4][20] Fund Holdings - In Q4 2024, automotive stocks accounted for 2.94% of the total investment value in public funds, marking a year-on-year increase of 0.85 percentage points [4][16] - The top five companies held by funds were BYD, Yutong Bus, Fuyao Glass, Geely, and Top Group, with BYD having the highest number of fund holdings at 270 [4][21] Recommendations - Recommended companies in the complete vehicle segment include BYD and Li Auto, while beneficiaries include Geely and Longxin General [4][5] - In the intelligent parts segment, recommended companies are Huayu Automotive, Bertley, Desay SV, and others. For new energy parts, recommended companies include Farah Electronics, Zhongrong Electric, and others [4][5]