汽车行业动态报告：商用车景气度超预期叠加乘用车BETA见底、智驾机器人BETA开始修复

中信建投证券2025-07-14

核心观点：商用车景气度超预期叠加乘用车beta见底、智驾机器人beta开始修复核心观点：主机厂6月产销数据整体符合预期，进入7-8月行业淡季（叠加去年高基数），市场对行业景气预期或有波动，乘用车板块随着明年补贴政策退坡，预计9月开始迎来销量快速增长，beta上行。此外，当前临近中报业绩期，绩优汽零标的关注度有望回升，而智驾及机器人板块在经历调整后，当前开始底部区间，建议积极配置。商用车板块景气预期...

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