Xinda Securities·2025-05-05 09:07Investment Rating - The investment rating for the automotive industry is "Positive" [2] Core Insights - The penetration of pure electric vehicles in the U.S. is accelerating, with the market share of pure electric vehicles in light-duty vehicles rising to 7.2% [3][4] - The U.S. President signed an executive order to alleviate the impact of automotive tariffs, allowing for a tax deduction of up to 3.75% on vehicle value for companies producing and selling vehicles in the U.S. [3][7] - The first national standard for automotive laser radar has been released, with the market size expected to surge to 6.263 billion [11][12] - The sales of Chinese automotive brands in Europe increased by 78% in the first three months of 2025, reaching 148,096 units [10] Summary by Sections Industry Key News - The U.S. light vehicle market saw a 14% year-on-year increase in pure electric vehicle registrations, totaling 89,728 units in February [3] - Huawei launched a smart driving safety initiative supported by executives from 11 automotive brands [3][7] - Leap Motor is providing an electric vehicle platform to Hongqi, with production expected to start in the second half of 2026 [3][8] - BYD's "Shenzhen" ship set sail for Brazil carrying over 7,000 new energy vehicles [9] - Xiaomi's YU7 model now includes a version with a range of 835 kilometers [9] Market Performance - The A-share automotive sector outperformed the broader market, with a weekly increase of 0.67% [13] - The passenger vehicle sector saw significant gains, with companies like Leap Motor and Xiaomi leading the charge [15] - The commercial vehicle sector also showed resilience, with notable performances from companies like Noli and Foton [19] - The automotive parts sector experienced a rise, with Jin Qilin and Redick leading the gains [20] Upstream Data Tracking - Steel and aluminum prices have slightly decreased, while natural rubber prices remained stable [25][26] - The price of lithium carbonate has stabilized after a decline since March 2024 [29]