The motorcycle traction control system (TCS) is an add-on safety feature that complements the anti-lock braking system to offer higher stability, especially during the cornering and tilting of motorcycles. The TCS market is still in its nascent stage because this system is largely restricted to premium motorcycles that are used for touring and racing.The market dynamics of the TCS revolves around the adoption of Anti-lock braking system and the cost of the system. We expect rapid adoption of ABS during the forecast period owing to various governments mandating this technology as a standard fitment in motorcycles, which will set the stage for TCS. On the otherhand, original equipment manufacturers effort toward cost reduction of the system will complement the high-volume adoption of ABS in mid and entry-level motorcycles.

One of the primary drivers behind the global motorcycle side view assist system (MSVAS) market is the continued incidence of motorcycle rider fatalities, which has reached an all-time high of 250% compared to the number of registered motorcycles in the US, as of 2014. A distinct lack of riding skills, combined with a failure to appreciate the inherent operating characteristics of a motorcycle with regard to a car, has been found to be some of the prevalent reasons behind motorcycle fatalities. This is the rider safety cavity that MSVAS is expected to fill. Apart from the safety angle, bikers usually gravitate toward touring bikes/maxiscooters due to the comfort offered by these bikes. MSVAS plays right into the expectations of this consumer base by easing the effort on their necks since it replaces the traditional "turning the head" ritual, which bikers usually do when changing lanes.

The history of automobile suspension systems dates back to beginning of the 19th century, when automobiles were invented. That time, internal combustion engine powered vehicles were in the embryo stage and only two innovations were made to form the vehicle's suspension system. For the first time, front coil springs were used along with dampeners, which acted as shock absorbers for minimizing vibrations in vehicles. Later, suspension systems saw the use of new setup with leaf springs, which were less expensive and flexible in terms of changing shape so as to accommodate varying weights. This system was initially used by European automakers. Then came the development of independent rear suspension systems, which offered better driving with improved handling and stability characteristics. Automakers also started using air springs, which combined spring and shock absorbers into a single unit providing even better comfort, though costlier than conventional suspension systems.

Uncertainty has a cycle, like everything else, which threatened to peak in 2016, as geopolitical risk took centre-stage in shaping the fortunes of global corporates. Our view: the net effects of anti-trade sentiment from growing nationalism, protectionism, and Brexit are likely to outweigh greater hope for fiscal stimulus in corporates’ investment planning.An overall stable outlook for corporate ratings in 2017 also fails to show persisting high levels of regional disparity. Net Negative Outlooks and Watches improved strongly in the U.S, but Latin American corporates are facing increasingly challenging conditions and a weakening credit trend with Negative Outlooks comprising 31% of our international rating portfolio. The slow recovery from the recession in Brazil, weak domestic growth rates in Chile, tax reforms in Colombia, and economic uncertainty in Mexico will continue to pressure ratings over the next 12 to 18 months.

A lot of events occurred in the Azerbaijani economy in 2016. In particular, Azerbaijan planned to pass to an economic model not to depend on oil in 2016.The government mainly focused on the development of the country’s export potential in 2016, namely, the expansion of non-oil goods and services and the creation of more favorable conditions in the investment sphere.Azerbaijan has recently invested billions in the development of marine, rail, automotive,communal, social infrastructure. As a result, Azerbaijan turned into a major transit country in the region.An important event of 2016 was the coordination of the details of implementing the North-South corridor project, which will become a bridge to connect the railways of Iran,Azerbaijan and Russia. Thus, the expansion of the transport routes will further increase the country's attractiveness for investors by supplying the products produced in Azerbaijan to other markets.

二级市场表现:年初以来汽车板块上涨 2.2%，跑输沪深 300 挃数 1.8 个百分点（上涨 4%），其中乘用车/商用车/经销商/零部件年初以来涨幅依次为5.1%/3.4%/3%/0.6%。

本周，沪深 300 上涨 1.56%，汽车及零部件板块下跌 0.80%，跑赢大盘 2.36个百分点。其中，乘用车子行业下跌 1.13%；商用车子行业下跌 0.90%；汽车零部件子行业下跌 0.73%；汽车经销服务子行业上涨 0.58%。 

乘联会发布 1 月产销数据，广义乘用车批发销量同比下滑 1.5%，低于我们此前同比增长 1~3%的预期，产量同比下滑 4.9%，国内销量同比下滑 9.8%。 

主要投资策略。在 17 年小排量购置税退坡背景下，不受政策影响的以 ABB为代表的豪华车需求及进口车需求在消费升级及高端车平民化趋势下，需求有望呈现错峰复苏，高端车销量增速有望高于乘用车行业平均水平，看好17年高端车需求释放。建议从以下几条主线选择投资标的：一是，进口车批发商及豪华车经销商：A 股，国机汽车、广汇汽车；H 股，永达汽车、宝信汽车；二是，高端车整车企业：A 股，上汽集团（凯迪拉克）；H 股，华晨中国（宝马）、北京汽车（奔驰）；三是，配套高端车的汽车零部件：继峰股份、均胜电子。

汽车热管理保证了汽车的安全性、经济性和舒适性：汽车热管理技术是从整车集成和系统集成的层面出収，统筹热量在整车、各系统以及各零部件之间的关系。良好的热管理技术可以降低传统汽车的油耗，增加电动汽车的续航里程；提高整车的安全性，保证电池在合适的温度下工作；提高驾驶舱人员和乘客的舒适性。

从产业调研情况来看淡季有可能延续至 4 月份，时间和力度超市场预期，核心原因是：新的补贴政策对电池能量密度和安全性的要求趋严，造成大批的 2，3 线的磷酸铁锂厂家停线升级和改造，因此动力电池产业链出货量出现大幅下滑，短期产业链景气受到压制。 

本周，沪深 300 上涨 1.55%，汽车及零部件板块上涨 2.81%，跑赢大盘 1.26个百分点。其中，乘用车子行业上涨 4.75%；商用车子行业上涨 3.48%；汽车零部件子行业上涨 1.04%；汽车经销服务子行业上涨 4.50%。 

中汽协公布 1 月汽车销量 252 万辆，同比增长0.23%，其中乘用车销量 222 万辆，同比下降 1.1%，商用车销售 30万辆，同比增长 11%。本周《京津冀及周边地区 2017 年大气污染防治工作方案(征求意见稿)》的网传文件备受关注，其中提出北京市9 月底前出租车全部更换为电动车，其他城市力争 2017 年年底前一半出租车更换为电动车。根据乘联会预测，总体估计出租市场将带来 13 万台的增量，占到今年目标销量 80 万台的 1/6，如果这一政策得到落实，将是对今年新能源汽车销量的一个有力推动。

本周回顾：受春节错峰影响，1 月狭义乘用车销量零售批发均出现同比下滑，但豪华品牌和一线自主品牌增长强劲；1 月新能源乘用车销量仅 0.54 万辆。展望 2 月，春节影响逐步弱化，传统汽车+新能源汽车需求有望逐步回归常态。下周汽车板块看好：1、宝马 17-18 年迎新车周期，宝马全国最大经销商宝信汽车进入业绩反转周期，重点推荐“广汇汽车+宝信汽车（港股）”；2、豪华车增长强劲，宝马奔驰产业链核心受益标的：模塑科技；3、中西部消费升级+自身产品力提升，自主品牌正崛起，带来产业链的投资机会。重点推荐零部件明显受益者：拓普集团，整车核心标的：上汽集团。

本文给出了大微卡的产品定义，明确大微卡产品的范围，通过研究大微卡市场发展的历史沿革，对当前市场竞争态势进行了分析，并描述了用户对产品的需求特征，最终发现未来用户对大微卡产品的需求趋势。

运用专业的专利检索分析方法对车用发动机节能减排八大技术分支的专利申请趋势、国别分布、申请人分布等情况进行分析，从而获得全球与中国范围内车用发动机节能减排技术的专利发展概况，并依据分析结果提出发展建议。

本文从国内外两个视角分析了汽车行业大数据建设现状，在此基础上，阐述了中国乘用车流通大数据建设基本理论框架，对核心数据体系进行了详细解读，并在完善数据体系的基础上探讨了乘用车流通大数据的应用效果。

自20世纪90年代以来，在迫于环境保护和能源问题的压力下，世界各国都相应地制定了愈来愈严格的排放法规和机动车燃油消耗限值。相关法律法规的制定迫使汽车与发动机生产商在控制产品排放和油耗限值的道路上不断进行新的探索，其中，柴油发动机以其较汽油机良好的燃油经济性与动力性等优势受到了世界各国政府和汽车生产商的重视。在欧洲大陆，乘用车搭载柴油机已经非常普遍，但是我国的乘用车柴油化却面临着诸多阻力和挑战亟待破解。

随着发达国家逐渐增强汽车领域节能减排管理，欧盟、美国的轻型汽车油耗水平也呈现下降的趋势，但是自去年美国大众爆出排放造假事件以来，关于油耗及排放型式认证检测结果的真实性与可靠性再次被推上舆论的风口浪尖。本文将对欧盟和美国的当前型式认证检测合规机制进行系统性地介绍，并对欧盟当前管理与应对措施提出合理化的建议，旨在为我国政府主管部门对合规检测和数据核查方面的系统化管理提供理论基础。

“打破一亩三分地。”三年前，习近平总书记在北京听取京津冀协同发展工作汇报时的话言犹在耳，也为三地跨区域协同发展开启新的大门。三年来，北京多领域借势前行，环保、新能源车、冰雪等产业在变局中重生。城市功能重新排列组合，旧生意逝去，新商机溢出。本组系列报道讲述了企业泛舟全新起锚的故事。在首都功能疏解的大潮中，大城格局由此一新，产业蓝海浮出水面。