汽车行业2020 年Q4 上涨20%，在申万28 个一级行业中排名第五。2020 年Q4 申万汽车行业指数相对于沪深300 区间涨跌幅为6%，其中乘用车及商用载货车指数表现突出，分别相对沪深300 上涨39%、15%。2020 年Q4 十大汽车重仓股占基金股票投资市值比为0.92%，环比上涨0.18%，同比上涨0.02%；2020 年Q4乘用车重仓股占基金股票投资市值比为0.42%，环比上涨0.04%，同比上涨0.23%。

据中汽协，20 年12 月我国汽车批发销量为283.1 万辆，同比上升6.5%，1-12 月累计批发销量为2526.8 万辆，同比下降1.9%。其中，乘用车批发销量为237.5 万辆，同比上升7.3%，1-12 月累计批发销量为2013.6 万辆，同比下降6.1%；商用车批发销量45.6 万辆，同比上升2.5%，1-12 月累计批发销量为513.1 万辆，同比上升18.7%。

1 月终端需求延续12 月强劲复苏态势，预计仍有15%左右的同比增幅。去年12 月的终端需求不仅环比仍然延续了年底翘尾效应的趋势，同比更是表现强劲，终端零售达到近三年最高水平。当前，通过我们持续的终端销量拟合发现，今年1 月终端需求延续12 月强劲复苏态势，预计同比增幅将达15%左右，对应上险量约210 万台。

我们认为2021年全球新能源汽车销量增速将达到50%，受此拉动六氟磷酸锂作为电解液核心原料其需求将快速增长，在产能偏紧的背景下产品价格将持续上涨，推荐六氟磷酸锂龙头企业以及提前锁定部分六氟磷酸锂长单的电解液企业，推荐天赐材料、多氟多、天际股份、新宙邦等标的。

Automotive hydrostatic fan drive system is an engine cooling system for heavy vehicle. It provides desired cooling for a wide-range of applications ranging from forestry and agriculture machinery to buses and construction equipment. Automotive hydrostatic fan drive system maintains optimal operating temperature for combustion engines, under various conditions irrespective of the speed of the combustion engine. It allows mobile equipment, commercial vehicles, trucks, buses, and coaches to meet the stringent guidelines regarding emission, and noise.

The increasing dominance of innovations in manufacturing and construction, the need for an increasing number of machines, the growing demand for consumer appliances, and forging machines across all geographies have enabled the industry to focus on improvement in productivity and product innovation. The competitive nature of the automotive, aerospace, IT, and defense industries has led to these sectors demanding high-quality, value-added output through efficient design and stronger sealing and pressure-control abilities. APAC-based vendors are modernizing their sealing and joining products, as the entry of large multinational vendors into these regions has made the industry highly competitive.

20 年4 季度末公募基金汽车行业配置比例2.1%，仍处于低配状态。根据Wind 统计，2020 年4 季度末汽车行业公募基金配置比例为2.1%，环比上升0.1 个百分点，汽车行业配置比例自2020 年2 季度末达到2010 年以来历史低点后连续2 个季度呈上升趋势。