汽车行业周报：全年销量符合预期，智驾引领再提速-20260112

Investment Rating - The report maintains a "Recommended" investment rating for the automotive and automotive parts industry [6] Core Insights - The overall sales of passenger vehicles met expectations with a year-on-year growth of 9%, while new energy passenger vehicles saw a growth of 25% [1][2] - In December 2025, the retail sales of passenger vehicles were 2.296 million units, a year-on-year decrease of 13%, but a month-on-month increase of 3%. Cumulatively, retail sales for the year reached 23.779 million units, a year-on-year increase of 4% [1][20] - The report highlights the rapid advancements in intelligent driving technologies, with multiple automakers updating their systems and competing in the autonomous driving sector [3][4] Summary by Sections Sales Performance - In December 2025, wholesale sales of passenger vehicles were 2.759 million units, a year-on-year decrease of 10%, with cumulative wholesale sales for the year reaching 29.524 million units, a year-on-year increase of 9% [1][20] - For new energy vehicles, December retail sales were 1.387 million units, a year-on-year increase of 7%, with cumulative retail sales for the year at 12.859 million units, a year-on-year increase of 18% [1][20] Industry Developments - Several automakers, including Zeekr and Geely, are enhancing their intelligent driving systems, indicating a shift towards integrated decision-making models in vehicle technology [3][4][32] - The report emphasizes the importance of continued policy support for the automotive industry and the potential investment opportunities arising from advancements in autonomous driving technology [4] Market Trends - The automotive sector saw a 2.53% increase in the week of January 3-9, 2026, with most related sub-sectors also experiencing growth [12] - The report notes that the intelligent driving technology is becoming a key competitive area among automakers, with significant investments and innovations being made [3][4][39]