汽车行业周观点（0210-0214）：整车机会仍在右侧；低空板块势能走强，把握右侧机会

Investment Rating - The industry rating is "Outperform the Market" [7][31] Core Insights - The automotive sector is expected to see opportunities on the right side, with a focus on smart driving as a significant application of AI, leading to a competitive landscape among automakers [5][10] - Recent policies, such as trade-in incentives and local subsidies, are anticipated to support overall sales growth, with the industry expected to emerge from a seasonal downturn [5][10] - The report emphasizes the importance of smart driving technology and its integration into vehicles, predicting a shift from traditional manufacturing to technology-driven enterprises [5][10] Summary by Sections Recent Market Trends - The automotive index rose by 1.2%, ranking 15th out of 31 sectors [2] - Retail sales of passenger cars decreased by 31% year-on-year, while wholesale remained flat [4] - Significant partnerships and strategic plans were announced by major players, including BYD and Changan [4] Investment Strategy - The report suggests actively participating in the automotive sector, particularly focusing on leading companies such as BYD, Geely, and Li Auto [5][11] - The smart driving sector is highlighted as a key area for investment, with expectations of a competitive arms race among automakers [5][10] Company-Specific Insights - BYD is set to enhance its smart driving capabilities and maintain its electric vehicle advantage with new model launches [6] - Geely is expected to achieve profitability in its new energy segment and is preparing to launch several new models [6] - Xiaomi is advancing its AI strategy and plans to increase production capacity for its automotive division [6] - Other companies like Seres and Ideal Auto are also positioned for growth with new product launches and market expansions [6][9]