汽车与零部件行业周报：本田日产官宣合并，发改委低空经济司正式成立

Investment Rating - The industry investment rating is maintained at "Overweight" [19][57]. Core Viewpoints - The report highlights a strategic partnership between Changan Automobile and EHang Intelligent to explore the development of flying cars, indicating a focus on future mobility ecosystems [1]. - The report notes that the used car transaction volume in China is expected to exceed 1.85 million units in December, setting a new monthly record [10]. - The report emphasizes the ongoing consolidation in the automotive industry, with Honda and Nissan announcing a merger that will create the world's third-largest automotive manufacturer [18]. Summary by Sections Market Review - The Shanghai Composite Index increased by 1.36%, while the automotive sector rose by 0.69%, ranking 7th among 31 sectors [27]. - The commercial vehicle segment showed the highest growth at +2.46%, while the automotive services sector declined by -6.74% [29]. Industry Data Tracking - From December 1 to 22, 2024, retail sales of new energy vehicles reached 817,000 units, a 60% increase year-on-year [35]. - For the same period, total retail sales of passenger vehicles were 1.692 million units, up 25% year-on-year [40]. Recent Industry/Key Company Dynamics - Honda and Nissan have signed a memorandum to initiate merger discussions, aiming for completion by August 2026 [18]. - BAIC Blue Valley announced a capital increase of 8.15 billion yuan for its subsidiary, BAIC New Energy [49]. - The report also mentions that Zhiji Auto completed a Series B financing round, raising 9.4 billion yuan for technology development [49]. Investment Recommendations - Recommended stocks for passenger vehicles include BYD, Great Wall Motors, and Changan Automobile; for commercial vehicles, China National Heavy Duty Truck Group, Yutong Bus, and Weichai Power are suggested [19][52]. - For parts suppliers, companies related to electrification and intelligence such as Shentong Technology and Yinhong Co. are highlighted [19][52].