According to Eurostat, over 75% of inland cargo transports within the European Union, i.e., about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European countries, this percentage goes as high as 90%, or more. ■ As a result, the demand for commercial vehicles has been continually increasing in the region, owing to the growing logistics industry and increasing usage of light commercial vehicles, such as vans (for ride hailing services). The underlying factor driving the growth of the light commercial vehicle market in Europe is the increased preference for pickup trucks and small vans, over heavy-duty trucks and railways, for logistics. Thus, the demand for lightweight vehicle components to integrate into light commercial vehicles is expected to grow significantly, during the forecast period. This, in turn, is expected to augment the demand for high-pressure die casted products, like fuel filters.

The automotive transmission system has many advantages, apart from performing the simple purpose of transferring an engine's power to the wheels. Some of the advantages of automatic transmission vehicles are: They are simple and easier to use as it reduces the burden on the driver. Automatic shift of gears is faster and more accurate than most manual, as manual transmission shifting involves several degrees of driver movement, offering opportunity for mistakes and mis-timings. Due to higher planetary gear system in automatic transmission vehicles, surface contact between the gears increases, thereby, torque load spreads out over a greater area and reduces breakage.

The report incorporates the study of the global anti-lock braking system market that focuses on component of ABS and use of ABS for different vehicle types. Anti-lock braking system is mainly used in vehicles to provide features such as safe braking and easy maneuvering in emergency situations. ABS holds a great potential in changing the safety of vehicles thus making them safer and comfortable. ABS is designed to be useful whenever a driver slams on the brakes, particularly when road conditions are slippery or wet. In these conditions, a vehicle is more likely to slide, or skid, if the wheels lock. The primary function of ABS is to avoid skidding and retain steering control after hard braking; ABS can therefore help reduce the risk of being involved in a head-on collision with a car or another substance.

11 月（2019.11.9-2019.12.5）全 A 指数涨跌幅为-2.89%，汽车行业涨跌幅为 -0.29%，领先大盘 2.60pct，位于 SW 一级行业中第 6 位。

《规划》（征求意见稿）指出：新能源汽车产业为世界经济发展注入新动能；我国新能源汽车产业进入加速发展新阶段；融合开放成为新能源汽车发展的新特征。《规划》（征求意见稿）对我国新能源汽车的市场销量份额愿景为：2025 年销量占当年汽车总销量 25%（估计约合 700 万辆），智能网联新车销量占到当年汽车总销量 30%。 

汽车车灯是“自带流量”的黄金赛道，随着光源升级和车灯智能化升级，预计 2024年全球市场规模将接近 3000 亿元。我们复盘了全球汽车车灯龙头小糸制作所的成长，总结过去 10 年股价涨幅 11 倍的核心原因：1）注重研发，享受产品升级红利；2）跟随丰田推动全球化，打破成长天花板；3）专注车灯业务，不断提升经营能力。随着行业“一超多强”的格局趋平，优质自主车灯企业有望乘势实现快速成长。首次覆盖给予车灯行业“强于大市”的评级，重点关注：华域汽车、星宇股份、科博达。 

2020 年法规强制安装为国内 TPMS 需求带来确定增量，重点推荐：1）保隆科技：全球第三大 TPMS 供应商，国内绝对龙头，三季度经营拐点确认， 2020 年下游需求有望快速提升。2）亿纬锂能、鹏辉能源：布局 TPMS 电池业务，有望依托成本优势实现外资替代。 

据中汽协 12 月 10 日发布的数据，2019 年 11 月全国汽车产销量分别完成 259.3 万辆和 245.7 万辆，环比分别增长 13%和 7.6%，同比分别增长 3.8%和下降 3.6%；产量开始实现月度正增长，销量同比降幅较上月收窄 0.5 个百分点。1-11 月，汽车产销量分别完成 2303.8 万辆和 2311.0 万辆，同比分别下降 9.0%和 9.1%，降幅比 1-10 月分别收窄 1.4 和 0.6 个百分点。

乘联会发布 10 月狭义乘用车产销数据，产量：213 万，同比+1.5%、环比+11.1%，累计同比-8.5%；批发：204 万，同比-4.6%、环比+7.3%，累计同比-10.1%；零售：194 万，同比-4.1%、环比+5.1%，累计同比-7.9%。

HEV销量增势强劲，本田份额提升。1-11月，国内市场HEV销量规模超25万台，同比增长超45%，但在乘用车市场渗透率仍不到1%，相比日本、欧洲市场20%、3%的渗透率仍有差距。销量结构上来看，丰田和本田两大品牌合计市占率超过95%。具体车型来看，HEV市场产品较少，份额集中，前10大车型在总销量中占比93%。今年本田在HEV市场份额提升较快，主要得益于搭载第三代i-MMD混动系统的全新雅阁和奥德赛HEV上市后受欢迎。