汽车周报：持续看好强势自主整车，年度重视整车、智驾、机器人-2025-03-20

Investment Rating - The report maintains a positive outlook on strong domestic automotive manufacturers, emphasizing the importance of complete vehicles, intelligent driving, and robotics for the year [5][6]. Core Viewpoints - The report highlights a sustained optimism for strong domestic automotive brands, with a focus on complete vehicles, intelligent driving, and robotics as key investment areas for the year [5][6]. - It notes a significant increase in domestic vehicle sales, with total insurance registrations reaching 421,000 units during the week of March 10-16, representing a year-on-year increase of 32.0% and a month-on-month increase of 18.3% [6][29]. - The report anticipates a recovery in orders by the end of March, following a decline in February, with brands like BYD, Xiaomi, and Xpeng showing positive trends [6][41]. Summary by Sections 1. Core Viewpoints - The report emphasizes a strong outlook for domestic automotive manufacturers, focusing on complete vehicles, intelligent driving, and robotics as key investment themes for the year [5][6]. 2. Market Tracking - The automotive sector's weekly performance shows a 1% increase, with the sector's valuation percentile at 56%, indicating a historical average position [10][11]. - The report tracks the performance of various automotive sub-sectors, with automotive services showing the best performance at +3.3% for the week [14]. 3. Industry Prosperity - The report provides insights into terminal data, noting that the total insurance registrations for the week were 421,000 units, with a significant increase in new energy vehicle registrations, which reached 221,000 units, a year-on-year increase of 47.9% [6][35]. - It also highlights the expected recovery in orders for March, with brands like BYD and Xiaomi showing strong order trends [41][44]. 4. Important News - The report mentions that the automotive industry is experiencing a seasonal adjustment, with expectations for a rebound in orders and sales as new policies and models are introduced [6][38]. 5. Stock Tracking - The report recommends focusing on stocks like BYD and Xiaomi, with expectations for significant price increases in strong domestic brands [6][20].