On Tuesday, A-shares pulled back collectively, but auto stocks continued to rise.Among them, the entire automobileConcept stocksIt bucked the trend, and driverless cars and auto parts stocks were active.New energy vehicle stocks set off a wave of ups and downs.

As of the midday closingSuao Sensor rose and stopped by 20cm, while many stocks such as Derun Electronics, Edelong, Tianlong shares, Haomei New Materials, and Fenglong shares rose and stopped; JAC rose more than 6%, and Changan Automobile and Jiangling Motors rose more than 3%.

With the end of the “gold nine silver ten” auto market,Major car companiesinGood results were achieved during the peak consumption season. Data displayIn September and October, domestic automobile production and sales reached new highs, and the performance of new energy vehicles was particularly impressive.

According to data from the China Automobile Association, production and sales of new energy vehicles in September reached 879,000 units and 904,000 units respectively, up 4.3% and 6.8% from the previous month, and 16.1% and 27.7%, respectively, from the previous year. In January-September, production and sales of new energy vehicles reached 6.313 million units and 6.278 million units, respectively, up 33.7% and 37.5% from the previous year.

From then onJudging from the October report cards released by car companies, many new car builders all set records in delivery volume.

Among them, BYD is far ahead in sales volume. In October, sales volume increased 38.6% year on year to 301,800 units. Ideal Auto's monthly delivery broke through the 40,000 mark for the first time, and will launch a sprint by delivering 50,000 vehicles to the month. Xiaopeng Motor delivered more than 20,000 vehicles and Zero Sports Auto delivered 18,000 vehicles, all of which set a record for delivery in a single month. NIO delivered 16,000 vehicles.

The trumpet of sprint sounds at the end of the year

Since this year, the price war, which initially began with Tesla at the core, has swept through the entire automotive industry. As we approach the end of the year,In order to achieve the “annual KPI”, major car companies once again sounded the trumpet of sprint at the end of the year and started a protracted “price war” with real money.

October 31,Under the Great WallEuler MotorsLightning Cat announces price cuts. Users who order Euler Lightning Cat from now until November 30 can enjoy a cash discount of 30,000 yuan for a limited time. If you choose the Lightning Cat Night Edition package, you can get a 50% discount on the optional price.

Then on the first day of November,BYDJust make an announcement,A number of popular models have been reduced in price.will11/1 to 11/30The “One Million Seas Thanksgiving and Courtesy” campaign was launched, and promotions were launched for five models, including the Frigate 07, 2,000 yuan to 20,000 yuan campaign, and the Dolphin and Seal Champion Edition, 2,000 yuan to 9,000 yuan, etc.

On the same day,Lynk & CoIt was announced that from November 1 to November 30 (including the same day), complete the final lock order for the Linker 08 model, and complete the pick-up of the vehicle on December 31, you will be able to enjoy 8 benefits.

On November 2,Zero-run carAn official announcement was also issued announcing price reductions for all models. From November 1 to 30, it was decided that a maximum subsidy of 10,000 yuan could be obtained. In addition, some models can also enjoy subsidies such as a 5,000 yuan optional fund, 950 yuan traffic insurance, and a home charging service package.

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According to incomplete statistics, since this year, more than 50 domestic automobile brands and hundreds of models have participated in the price war through manufacturer subsidies or dealer price cuts, etc., with unprecedented success.

At present, the automobile industry has reached its last shot at the end of the year, leaving it to car companiesTime is running out to meet annual sales targets.

Lang Xuehong, Deputy Secretary General of the China Automobile Dealers Association, saidEntering November, manufacturers and dealers will enter the full-year target sprint stage, and market demand will be better than October.

Furthermore, factors such as the “Double 11" car purchase promotion campaign by car companies, the launch of the Guangzhou International Auto Show, and the launch of new cars are conducive to boosting car sales. At the same time, local car purchase subsidies and car companies' promotional activities are still continuing. It is estimated that retail sales will increase by about 10% month-on-month in November, to about 2.1 million vehicles.

How to grasp the market? Agency interpretation

According to Galaxy Securities,After “gold nine silver ten”, the industry is about to enter the end-of-year impulse stageSince this year, the competitive pattern in the industry has intensified, and the pace of iteration of new energy models has intensified, which has had an impact on the fuel vehicle market and inventories of old new energy vehicles. Consumer wait-and-see sentiment is heating up under the superimposed price war, and the industry's inventory backlog has intensified.

According to the Everbright Securities Research Report,The advancement of intelligence and new technology is optimistic about the Tesla and Huawei model supply chain segmentation circuit: intelligence and new technology are expected to bring thematic investment opportunities.

1) The large model may gradually expand from the existing sensing layer to comprehensive end-to-end in the application field of intelligent driving. “AI+” advanced intelligent driving and the industry chain are expected to continue to heat up.

2) Tesla has made a major breakthrough in integrated die-casting, and car companies/die-casting manufacturers are advancing the large-scale high-vacuum die-casting integration process or may be faster than expected.

3) Tesla Optimus is expected to drive the rapid development of the humanoid robot industry, or drive the expansion of core components business upstream in the industrial chain. I am optimistic about 2024E's investment opportunities in the relevant industrial chain driven by intelligence and new technology, and the two segmented tracks of the Tesla (especially North America) industry chain with catalysts, and the supply chain of Huawei models.

According to the Guotai Junan Research Report,The NEV industry chain is expected to gradually improve, and the current long-term value of the sector is prominent.

The agency recommended focusing on:1) Leading battery companies are expected to further increase their market share in price competition through scale effects and industrial chain cost control;2) Charging pile links that are growing strongly under policy guidance;3) Companies that continue to iterate on selected midstream products or have achieved remarkable results in cost reduction and efficiency;4) The process of robot industrialization is accelerating.