汽车销量月度跟踪报告：产销V型复苏可期，自主及新能源马力十足

产销V型复苏可期，自主及新能源马力十足撰写日期：2022-06-20汽车销量月度跟踪报告【2022.05】太平洋汽车团队首席分析师：白宇 执业证书编号：S1190518020004分析师助理：樊夏沛P25月车市核心看点◼5月零售触底反弹，购置税政策预热车市回暖2022年5月，国内乘用车零售135.4万辆，同比-16.7%，降幅较4月收窄，环比实现+29.7%的增长，产业链复苏迹象向好。◼新能源渗透率27%，总体供不应求5月新能源乘用车销量36.0万辆，渗透率达26.6%，维持高位震荡，今年前5月新能源乘用车累计零售达到171.2万辆，同比+117.7%，保持高速增长。◼比亚迪销量再创新高，领跑行业5月，比亚迪新能源汽车销量11.49万辆，同比增长约250.44%。受上海疫情影响，国内大部分车企销量大幅下滑，公司销量逆势而上再创新高，龙头地位凸显。◼PHEV同环比双升，复苏势头强劲BEV销量26.8万辆，PHEV销量9.2万辆，同比+189.8%，环比+30.9%；PHEV在新能源乘用车单月销量占比达历史新高（25.6%）。◼自主品牌势头不减，市占率维持高位5月自主品牌乘用车销量72.0万辆，同比增长6.0%，1-5月累计销量381.3万辆，同比增长8.8%。5月单月自主品牌市占率依然维持较高水平，达46.4%。◼投资策略持续看好稳增长基调下的汽车产业链复苏行情，重点关注长城汽车、长安汽车、广汽集团和理想汽车等整车标的，零部件推荐松原股份、经纬恒润、科博达、银轮股份和明新旭腾。◼风险提示宏观经济承压导致市场需求萎缩；芯片短供改善不及预期；消费拉动；疫情反复对产业链扰动加剧。◼一、5月汽车销量回望5月零售触底反弹，购置税政策预热车市回暖·····································································································································5新能源渗透率27%，总体供不应求························································································································································6PHEV同环比双升，复苏势头强劲··························································································································································7自主品牌势头不减，市占率维持高位····················································································································································8◼二、国内新势力车企销量及重点车型跟踪理想汽车：销量再次破万，凸显产品力优势·······································································································································10小鹏汽车：产能恢复提速，新车型蓄势待发·······································································································································11蔚来汽车：反弹未现逆转，累计交付实现正增···································································································································13哪吒汽车：连续同比增长，二线新势力突围·······································································································································15零跑汽车：同比增速居首，交付量过万···············································································································································17特斯拉：复产进入正轨，产销环比大增···············································································································································19◼三、国内主要上市车企销量及重点车型跟踪长城汽车：公司产销改善明显，环比大幅增长···································································································································22长安汽车：新能源同比翻倍，自主品牌海外成绩亮眼·······················································································································24广汽集团：销量跑赢大市，埃安单月超2万·········································································································································26比亚迪：逆势而上再创新高，领跑行业················································································································································28上汽集团：复工复产有序推进，整车生产逐步恢复·········