Core Viewpoint - The 28th Chengdu International Auto Show serves as a significant indicator for the automotive market during the "golden September and silver October" period, highlighting the shift from traditional fuel vehicles to new energy and intelligent vehicles in China's automotive industry [3][5][6]. Group 1: Event Overview - The Chengdu Auto Show, held from August 29 to September 7, features nearly 120 automotive brands and over 1,600 models, covering various industry hotspots with an exhibition area of 220,000 square meters [4]. - The total contract amount for the 2024 Chengdu Auto Show is reported to be 5.86 billion yuan [3]. Group 2: Absence of Luxury Brands - Notable luxury brands such as Rolls-Royce, Bentley, and Lamborghini are absent from the Chengdu Auto Show, contrasting with the presence of domestic brands like Chery [5][6]. - The absence of luxury brands is seen as a reflection of the market transformation, with a decline in sales for imported luxury vehicles noted in recent years [5][6]. Group 3: Sales Trends - Data indicates a significant decline in sales growth for luxury brands, with Rolls-Royce experiencing a domestic sales growth rate of -9%, -12%, and -40% from 2022 to 2024, respectively [6]. - The overall market for imported luxury cars has seen a downturn, with a projected acceleration in decline for 2024 [5][6]. Group 4: Cost-Benefit Analysis - The high costs of participating in A-level auto shows, estimated at around 40 million yuan, combined with low transaction rates (below 5%) for luxury brands, have led to a reassessment of their participation value [6]. - Luxury brands are shifting focus towards more targeted marketing channels, such as high-end tasting events and private customization activities [6]. Group 5: Joint Ventures and New Energy Focus - Many joint venture brands are leveraging the Chengdu Auto Show to showcase new products, aiming to break through in the competitive new energy market [7][8]. - The market share for mainstream joint venture brands in the new energy vehicle sector is reported at 3.6%, reflecting a decline [8]. Group 6: Product Launches and Market Strategy - Several brands, including SAIC Volkswagen and Ford, are launching significant new products at the Chengdu Auto Show, indicating a strategic push in the new energy vehicle segment [7][8]. - Companies are increasingly opting to release products ahead of major auto shows to gain visibility and test market reactions, as traditional auto shows lose their role as primary platforms for new vehicle launches [11][12]. Group 7: Competitive Landscape - The competitive landscape in the new energy vehicle market is intensifying, with traditional automakers accelerating their transformation and new entrants offering high-cost performance models [13]. - Price adjustments, such as NIO's new ES8 model being priced significantly lower than its predecessor, may trigger a new round of price wars in the market [12][13].

Core Viewpoint - SAIC Group is poised for significant growth in the second half of the year, driven by the launch of multiple strategic new models and a strong performance in the first half, with a notable increase in sales and market position [1][14][19]. Group 1: Product Launches and Innovations - The first model from the SAIC-Huawei collaboration, the "Shangjie" H5, features a spacious design and offers both pure electric and range-extended versions, with a maximum range of 1300 km [3][5]. - The LS9 model from the Zhiji brand is a full-size SUV with impressive dimensions (5279/2000/1806 mm) and a new design philosophy, enhancing its market appeal [7][9]. - Upcoming models from SAIC's self-owned brands include the luxurious Roewe M7 DMH and the upgraded MG4, both promising advanced technology and enhanced user experience [5][12]. Group 2: Sales Performance - In the first half of the year, SAIC Group achieved a vehicle sales volume of 2.053 million units, marking a year-on-year increase of 12.4% [1][14]. - The company's self-owned brands accounted for 63.5% of total sales, with a 21.1% increase in cumulative sales [15]. - SAIC's new energy vehicle sales reached 646,000 units in the first half, reflecting a 40.2% year-on-year growth [15]. Group 3: Technological Advancements - Over the past decade, SAIC has invested nearly 150 billion yuan in core technologies, resulting in over 26,000 effective patents across various platforms [15][17]. - The company has achieved mass production capabilities for L2, L3, and L4 level assisted driving technologies, collaborating with leading suppliers in the industry [15][17]. Group 4: International Expansion - In June, SAIC's overseas sales reached 90,000 units, a year-on-year increase of 11.5%, with a total of 494,000 units sold in the first half [18][19]. - The MG brand has maintained a strong market presence in Europe, achieving over 150,000 deliveries despite high tariffs, and consistently ranking among the top-selling Chinese automotive brands [19].