Views of the brokerage | Auto industry 2024 Investment strategy: intelligent empowerment, accelerated evolution and upgrading of the industry

[breaking news] 时间:2024-03-02 04:55:57 来源:Breaking news website 作者:{typename type="name"/} 点击:115次


  2023-12-22,爆炸新闻 Southwest Securities released a research report in the automotive industry, which states that intelligent empowerment and industry accelerate evolution and upgrading.

  The specific content of the report is as follows:

  Intelligent cars: In the first year of the city, smart driving promoted smart driving to accelerate the breakthrough period.1) L3 pilot policy landing, Tesla FSD entering China is expected: With the gradual landing of the L3+pilot policy, the process of entering China in Tesla FSD is expected to accelerate, which will bring the L3+penetration rate significantly, which will facilitate the layout of L3+parts and componentsThe target.2) The new models have been catalyzed one after another. It is worth looking forward to in 2024: Huawei Zhichuan models, ideal X platform and W platform models, and Xiaomi new cars will be launched one after another.3) The progress of domestic autonomous driving companies: 2023 is the first year of the city NOA. Huawei announced that it will realize the application of Huaweiiads 2.0 high -end intelligent driving system at the end of this year.Xiaopeng announced that the NGP function of cities without maps in 50 cities will be covered by the end of this year. By 2024, it will cover the main road network of the country and push it simultaneously to Europe.Ideal announced that the end of 100 cities will be achieved at the end of this year.The continuous implementation of the L3 function of autonomous driving manufacturers will catalyze the opportunity of the smart driving sector. It is recommended to pay attention to incremental opportunities such as Huawei, ideal, Xiaomi automotive industry chain, and smart driving, smart cockpit, smart chassis, body electronics, and car networking.New energy vehicles: The long -term trend of electrification is determined, and the penetration rate is expected to continue to increase.At the macro level, with the continued intensification of competition, the industry pattern will gradually be reshuffled and reshaped, and the overall "one super -strong" pattern will be presented.In the micro perspective, this year's explosive models are mainly concentrated in A0 and C -levels, such as Wuling Binuo, () Seagull, ideal L7/L8. In the context of continuous supply and relying on intelligent functions, next year's new energy penetration rateIt is expected to continue to improve.In addition, considering the policy -side support for new energy, and the global advantages of domestic trams in terms of cost -effectiveness, production capacity, and industrial chain, it is expected to open a certain space in sea.On the whole, it is expected that the sales of new energy passenger cars in 24 years will reach 11.08 million vehicles, and the penetration rate is expected to exceed 40%.Heavy card: Welcome to structural opportunities in the segmented field, and it will grow steadily in the short period.1) Under the background of sufficient gas source, significant economy, and increase in the number of gas stations, natural gas heavy trucks are still expected to maintain high prosperity, and market segments ushered in structural opportunities.2) The demand for the delayed heavy truck replacement in 2022 is gradually being released. The improvement of domestic demand improvement brought about by the gradual landing of domestic trillion debt projects and the development of overseas markets. The recovery will still be the main line of the heavy truck industry.The industry demand for 25 years is 937,000, 1.051 million, and 1.208 million, respectively, with a year -on -year growth rate of 39.5%, 12.1%, and 15.0%.Related targets: 1) The main targets of smart cars: (), Jingwei Hengrun-W, (), Shangsheng Electronics, (), (), (), (), (), Nai Shit.2) The main targets of new energy vehicles: Changan Automobile, (), (), (), (), (), (), (), (), (), (), ().3) The main target of heavy cards: () (2338.hk/000338), () () () (3808.hk/000951), (), O'Fu environmental protection.Risk reminder: policy fluctuation risk; automobile terminal demand and exports are less than expected risks; car companies are not as good as expected risks; intelligent connected automobile promotion is not as good as expected; raw material prices risk risk.

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