汽车行业周报：零跑3月交付居新势力第一，长城与宇树签订战略协议-2025-04-06

Investment Rating - The report maintains a "Recommended" rating for the automotive industry, indicating a positive outlook for the sector [5]. Core Insights - The automotive industry experienced an overall decline of 3.5% during the week from March 30 to April 5, 2025, with various segments showing mixed performance [2][10]. - New energy vehicle deliveries saw significant growth, with Leap Motor leading the new forces with a delivery of 37,095 units in March, a year-on-year increase of over 154% [26]. - The report highlights the strategic partnership between Great Wall Motors and Yushun Technology, focusing on motion control and application development for automotive scenarios [24]. Market Performance Overview - The automotive sector's secondary segments mostly declined, with passenger vehicles and auto parts experiencing notable drops of 4.4% and 3.8%, respectively [12]. - Individual stocks within the automotive sector showed varied performance, with Jiuxi Co. rising by 10.3% and Meichen Technology falling by 34.0% [3][17]. New Vehicle Launches - Several new models are set to launch in April, including the Leap B10, NIO Firefly, and BYD Han L, with prices ranging from 10.98 to 45.8 million yuan [4][22]. Industry Dynamics - The inventory alert index for Chinese automotive dealers was reported at 54.6% for March, indicating a slight improvement in market conditions despite remaining in a sluggish zone [24]. - Tesla's Q1 delivery figures showed a decline of 13% year-on-year, with a total of 336,681 vehicles delivered [29]. - The report notes the implementation of new tariffs on automobiles and parts by the Trump administration, effective from April 3 and May 3, respectively [30].