长安汽车：2月销量同比+6%，智能化加速推进-20250306

Investment Rating - The investment rating for Changan Automobile is not explicitly stated in the provided content, but the report indicates a positive outlook on the company's performance and growth potential [1]. Core Insights - Changan Automobile reported a February sales volume of 161,000 units, representing a year-on-year increase of 6% but a month-on-month decrease of 41%. The sales of Changan's self-owned brands reached 137,000 units, up 8% year-on-year but down 43% month-on-month [1]. - The company is accelerating its smart driving initiatives, with plans to achieve full-scene L3 autonomous driving by 2026 and L4 capabilities by 2028. The Deep Blue S09 will feature Huawei's advanced driving system [3]. - Over the next three years, Changan plans to launch 35 new smart vehicles across its brands, including various models from Changan Qiyuan, Deep Blue, and Avita [3]. - Changan's international expansion is progressing, with plans for a Southeast Asia factory, a European brand launch, and production projects in the CIS region and Latin America by 2025 [3]. Summary by Sections Sales Performance - February sales were 161,000 units, with a year-on-year increase of 6% and a month-on-month decrease of 41%. Self-owned brand sales were 137,000 units, up 8% year-on-year [1]. Smart Driving Development - The company is advancing its smart driving technology, aiming for L3 level by 2026 and L4 by 2028, with the Deep Blue S09 featuring advanced driving capabilities [3]. Product Launch Plans - Changan will introduce 35 new smart vehicles in the next three years, with various models planned across its brands [3]. International Expansion - The company is set to enhance its global presence with a factory in Southeast Asia, a brand launch in Europe, and production projects in the CIS and Latin America by 2025 [3].