汽车海外销量点评：8月欧洲、北美同比增速放缓，东亚降幅扩大

Investment Rating - The report maintains a "Buy" recommendation for the automotive industry [2] Core Insights - Global light vehicle sales in August reached approximately 6.92 million units, a year-on-year increase of 4.3% but a month-on-month decrease of 2.0%. Overseas sales totaled about 4.24 million units, down 1.7% year-on-year and down 8.3% month-on-month [2] - In August, North America sold 1.75 million vehicles, up 2.1% year-on-year and up 5.1% month-on-month. Europe sold approximately 1.09 million vehicles, up 0.7% year-on-year but down 24% month-on-month. China sold 2.68 million vehicles, up 15% year-on-year and up 10% month-on-month [2] - The report anticipates that overseas light vehicle sales will remain flat year-on-year in 2025, with North America expected to see a slight decline due to tariff impacts and subsidy reductions [2][5] Summary by Sections Industry: Sales, Exchange Rates, Freight - Global light vehicle sales and global new energy vehicle sales are detailed, with specific figures for various regions [6][8] - The report highlights the impact of exchange rates and freight costs on the automotive industry [6][24] Market Competition - The competitive landscape is analyzed, showing the market share changes among the top global automotive manufacturers [26][27] - The report discusses the global new energy vehicle market dynamics and the competitive positioning of key players [30][31] Export Situation of Automotive and Parts Companies - The report provides insights into the export performance of domestic automotive manufacturers, including monthly growth rates and the share of overseas revenue for key companies [36][37]