Core support of industry investment: prosperity is still in a "sweet period"
Since 2009, the total demand for passenger cars has experienced a four-wheel cycle and is now in a relatively stable cycle
The upward business cycle since the fourth quarter of 2019 has been interrupted by the epidemic and lack of core, and there is still great demand potential
The lack of "core" has both advantages and disadvantages for the industry, the industry competition pattern and prosperity benefit from a "tight" balance, and the valuations of Chinese and foreign auto enterprises are recovering
New energy vehicles have accelerated their penetration into the mass market
In October, the penetration rate of new energy vehicles was close to 20%
The annual sales volume is expected to be 2.8-3 million, and 4.5-5 million in 2022, with a penetration rate of 25%
Supply is the most important factor driving sales growth
The new forces of car making bring new demands to medium and high-end consumers
Traditional car companies increased the supply of new energy vehicles, and fans of traditional car companies such as Volkswagen and Toyota began to accept new energy vehicles
Medium and high-end vehicles will remain stable in 2021, but 100000-200000 vehicles are expected to become structural opportunities
