汽车与汽车零部件行业周报、月报：政策调整内卷进入冷静期，贸易壁垒出海持续开新篇

Investment Rating - The report suggests a focus on companies with strong technological product reserves and differentiated brand leadership, as well as those with solid overseas foundations and stable supply chain layouts [4]. Core Insights - The automotive industry is transitioning from a phase of intense competition and marketing "involution" to a more rational competitive environment, with expectations of improved orderliness in competition [2]. - Despite increased trade barriers from the U.S., the trend of Chinese automotive companies expanding overseas continues, with significant partnerships and market entries announced [3][4]. - The report emphasizes the importance of companies' core business capabilities in navigating the evolving landscape of direct trade barriers and overseas investments [4]. Summary by Sections Weekly Market Review (2024.05.11-05.17) - The automotive sector index fell by 1.76%, underperforming the Shanghai Composite Index by 2.08 percentage points, ranking third from the bottom among major sectors [10][13]. - Notable stock movements included Great Wall Motors (+6.2%) and BYD (-3.6%) [10][14]. Data Tracking (2024.05.10-2024.05.16) - Retail sales of passenger vehicles in early May were 559,000 units, down 9% year-on-year but up 28% month-on-month, with cumulative retail sales for the year at 6.926 million units, a 6% increase [17]. - New energy vehicle retail sales reached 241,000 units, a 31% year-on-year increase, with cumulative sales of 2.692 million units, up 33% [17]. Industry News (2024.05.10-05.16) - Zeekr officially listed on the NYSE, achieving a market cap of approximately $6.9 billion [22][23]. - NIO launched its second brand, "Ledo," targeting the mainstream family market with a starting price of 219,900 yuan [26]. - Xpeng announced significant advancements in its urban autonomous driving capabilities, doubling the usable range [29]. - BYD launched its first pickup truck, the BYD SHARK, in Mexico, marking a significant step in the global new energy pickup market [38].