汽车行业周报：吉利计划全资控股极氪，体系整合应对市场淘汰期

请认真阅读文后免责条款汽车华龙证券研究所投资评级：推荐（维持）最近一年走势分析师：杨阳执业证书编号：S0230523110001邮箱：yangy@hlzq.com联系人：李浩洋执业证书编号：S0230124020003邮箱：lihy@hlzq.com相关阅读《问界M8上市4天大定5万台，关注鸿蒙智行新车周期—汽车行业周报》2025.04.21《零跑B10上市，关注智驾硬件普及—汽车行业周报》2025.04.14《新势力3月销量同比+82.9%，看好后续新品市场表现—新势力车企销量点评月报》2025.04.03 摘要： 注客车&重卡龙头宇通客车，中国重汽，潍柴动力等。风险提示：宏观经济波动风险；相关政策不及预期；原材料价格波动风险；地缘政治风险；重点车型销量不及预期；智能驾驶进展不及预期；第三方数据误差风险；重点关注公司业绩不及预期。EPS（元）PE2025E2026E2027E2024A2025E2026E2027E13.8418.4022.4726.6626.319.716.213.61.481.762.082.3715.713.211.29.80.740.811.041.2716.715.211.99.71.631.371.732.1111.313.410.68.73.946.408.179.7032.620.115.713.23.795.037.138.4027.420.614.612.4-3.06-0.761.423.45--52.821.83.614.836.127.6529.221.817.213.81.912.503.163.9228.221.617.113.81.241.712.232.8125.818.714.411.40.681.091.341.5324.115.012.310.71.992.523.194.0729.123.018.214.31.432.523.323.9227.115.411.69.9-1.11-0.500.180.96--206.538.11.782.102.613.1528.624.219.516.11.211.491.802.1128.222.919.016.10.941.291.621.9427.219.815.713.10.210.330.480.82217.4139.896.056.20.580.730.891.0348.038.031.026.80.971.421.761.9042.629.223.521.81.862.092.422.7714.212.710.99.61.261.501.772.0813.511.39.68.21.311.461.661.8311.510.39.08.2数据来源：Wind，华龙证券研究所，港股公司股价单位为港币，其他货币单位均为人民币，未评级标的盈利预 投资评级股价（元）2024A买入买入买入未评级未评级未评级未评级未评级未评级买入未评级增持未评级未评级未评级未评级增持未评级未评级买入未评级未评级未评级 内容目录1本周观点...................................................................................................................................................12行业动态...................................................................................................................................................12.1行业要闻............................................................................................................................................12.2上市车型............................................................................................................................................32.3公司公告............................................................................................................................................33本周行情...................................................................................................................................................34数据跟踪...................................................................................................................................................54.1月度数据............................................................................................................................................54.2周度数据..........................................................................................................................................145投资建议.................................................................................................................................................156风险提示.................................................................................................................................................15图目录图1：本周申万行业涨跌幅..................................................................................................................4图2：申万汽车子板块涨跌幅..............................................................................................................4图3：申万汽车板块PE（TTM）........................................................................................................5图4：申万汽车子板块PE（TTM）....................................................................................................5图5：我国汽车销量..............................................................................................................................6图6：我国汽车销量同比增速..............................................................................................................6图7：我国乘用车批发销量..................................................................................................................6图8：我国乘用车批发销量同比增速..................................................................................................6图9：我国乘用车零售销量..................................................................................................................6图10：我国乘用车零售销量同比增速................................................................................................6图11：我国新能源乘用车批发销量.....................................................................................................7图12：我国新能源乘用车零售销量....................................................................................................7图13：我国新能源乘用车批发销量同比增速....................................................................................8图14：我国新能源乘用车零售销量同比增速....................................................................................8图15：我国新能源乘用车批发渗透率................................................................................................8图16：我国新能源乘用车零售渗透率................................................................................................8图17：我国搭载L2.5及以上功能乘用车销量及渗透率...................................................................9图18：汽车经销商库存系数....................................................