Guosen Securities: The automotive industry is moving towards branding, globalization, and intelligence to seize the opportunity of industry upgrading in the wave of AI.

Guosen Securities released a research report stating that after experiencing a decade of high growth in the Chinese automobile industry from 2001 to 2010, the current Chinese automobile industry is gradually transitioning from a growth period to a mature period. With the annual growth rate of automobile sales in China slowing down year by year, single-digit growth will gradually become the norm, and the early dividend of the total volume of the automobile industry will also gradually fade. The increase in market share of new energy vehicles has led to overcapacity in traditional fuel vehicles and rapid expansion of new energy production capacity. The industry is facing a point of transition from old to new, and structural growth still exists. In the middle and later stages of the growth period of new energy vehicles, competition among car manufacturers is fierce, and branding and globalization are two important paths to counter internal competition. Under the background of rising independence and anti-internal competition, attention should be paid to the marginal opportunities of branding and going abroad. Intelligent driving is one of the important application scenarios of artificial intelligence, with a large user base and vast market space.