汽车行业周报：华为问界订单持续超预期，小米汽车SU7将正式上市

Investment Rating - The report maintains a "Buy" rating for the automotive industry, indicating a positive outlook for the sector [2][12]. Core Insights - The report highlights that Huawei's AITO M9 has exceeded expectations with over 60,000 pre-orders, translating to approximately 30 billion yuan in revenue. This is expected to drive a new wave of industry growth [2][12]. - The automotive sector is anticipated to rebound, supported by new product cycles led by companies like Ideal and Huawei, indicating an upward turning point in industry sentiment [2][12]. - The report emphasizes three key investment themes: Huawei's automotive ecosystem, Ideal's automotive performance, and Tesla's global delivery growth [2][12]. Summary by Sections Industry Dynamics - The report notes that the AITO M9 has achieved significant pre-order milestones, with 60,000 orders within 86 days of launch, showcasing strong market demand [5][12]. - Ideal Automotive has adjusted its first-quarter delivery guidance down to 76,000-78,000 units, a reduction of approximately 24% from previous estimates [6][12]. - Tesla plans to increase the price of its Model Y by 5,000 yuan starting April 1, which may influence market dynamics and consumer confidence [6][12]. Key Brand Tracking - In the third week of March 2024, Tesla led new energy vehicle sales with 12,600 units, followed by AITO with 8,600 units, and Ideal with 7,000 units [13][14]. - The report tracks monthly sales data, indicating that AITO's February deliveries reached 21,142 units, a year-on-year increase of 503% [14][16]. Market Performance Review - The report indicates that the automotive sector is currently experiencing low valuations, suggesting potential for growth as market conditions improve [3][12]. - It highlights the competitive landscape, with various brands adjusting pricing and promotional strategies to attract consumers amid a price war [18][22].