汽车行业点评报告：新势力跟踪之6月销量点评：15车企新能源车企合计交付环比+8%，行业整体表现先好于预期

东吴证券07-03

（以下内容从东吴证券《汽车行业点评报告：新势力跟踪之6月销量点评：15车企新能源车企合计交付环比+8%，行业整体表现先好于预期》研报附件原文摘录）投资要点6月15家新势力车企整体交付量环比+8%。15家新能源乘用车重点车企交付量合计67.68万辆，同环比分别+49%/+8%，其中蔚来/零跑/极氪/问界/比亚迪/小米月度交付均创历史新高，行业整体表现好于预期。其中理想/问界交付环增幅度最大，零跑交付...

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Premium Auto Prima马来西亚Sentinel Automotive Sdn.Bhd正式签署合作协议，宣布进入印度尼西亚、马来西亚市场。8）问界：6月问界交付42,780辆，同环比分别为+655%/+58%，问界M9上市6个月，累计大定突破10万辆。投资建议：商用车板块：大周期景气度继续向上。不同于历史周期，这轮商用车是【外内需共振】+【国企资产重估】，持续性有望好于市场预期。2023年是龙头开始兑现业绩，2024年龙二龙三等紧跟兑现业绩。客车板块：宇通客车+金龙汽车。重卡板块：潍柴动力/中国重汽+一汽解放/福田汽车。两轮车板块：长期来看行业龙头在政策+出海逻辑下依靠丰富产品线/渠道优势灵活调整销售策略保证竞争优势，两轮车板块优选【雅迪控股】/【爱玛科技】。摩托车板块优选【春风动力】。乘用车板块：依然看好【政策托底总量+电动化渗透率继续提升+L3智能化加速落地+出口高增长】四大因素驱动下乘用车板块表现。A股优选【华为系（赛力斯+长安汽车+北汽蓝谷等）+比亚迪+长城汽车+上汽集团+广汽集团等】，港股优选【小鹏汽车+理想汽车+长城汽车（关注）+吉利汽车+广汽集团（关注）等】。零部件板块：年降压力有限且长期受益乘用车L3智能化/全球化趋势。1）特斯拉产业链优选【新泉股份+拓普集团+旭升集团+爱柯迪+银轮股份+岱美股份等】。2）智能化核心增量零部件【德赛西威+华阳集团+耐世特+伯特利+均胜电子+经纬恒润等】。风险提示：全球汽车需求不及预期；政策落地不及预期。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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