汽车行业2月跟踪报告：2月增速季节性回落 3月将恢复较快增长130222.ppt

1,1,8,8,2,2013,2,3,2013,2,22,1,3,10%,8-10%,213 14,1-2,3,315%10-15%,010-S1010510120010010-60838704,2012,4.3%,1,2,20313,2013,+46.4%,+12.4%8%15%3,8%,S1010510120041010-S1010512020002,SUV+90.5%,+48.9%,+48.7%,MPV+174.8%-1.6%,010-,S101051207000115%,1.4,1,4.3+26.8%,+43.5%,+13.2%+32.2%,300,201313 14,10%,1.,2013,1,1,.2012-11-14,EPS11 12E,13E,14E,PE11 12E 13E 14E,PB,2.,2013,1,600104.SH,17.14,1.83 1.91,2.18,2.43,10 10,1.70,.2012-10-16,600741.SH,10.11,1.16 1.21,1.30,1.41,9,9,8,8,1.48,3.,2012,9,601633.SH,30.38,1.13 1.87,2.40,2.92,27,16,12,10,4.22,000625.SZ,8.48,0.21 0.23,0.62,0.83,45,41,15,11,2.89,.2012-09-13,600066.SH000581.SZ600104.SH,27.1942.5217.14,1.68 2.051.77 1.251.83 1.91,2.321.642.18,2.802.472.43,182410,153410,13268,11178,2.883.41.70,4.,20122012.2012-01-18,2013,2,21,1,1,2,1,2,4,1,6 1,7,9 SUV,10,11,2013,2,.1.2.3.3.4,MPVSUV,.4.5.5.6.8.8.9.9.10.1010-15%.12.12.13.14.19.1.1,35 20138 MPV,1,.2.2.3.4.4.5.5.6.7,12,13,14,15,16,1 1,2,3 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CertificationiiiThe analysts primarily responsible for the preparation of all or part of the research report contained herein hereby certify that:(i)the views expressed in this research report accurately reflect the personal views of each such analyst about the subject securities and issuers;and(ii)no part of the analysts compensation was,is,or will be directly or indirectly,related to the specific recommendations or views expressed in thisresearch report.“”,/,(,),(1),(2)/20131,300,20%,6,300,5%,20%,2,6300,6300,300300300300300,-10%5%10%10%-10%10%10%,48,1568,8,1,100125,22,200122,518048,26,Foreign Broker-Dealer Disclosures for Distributing to the U.S.This report has been produced in its entirety by CITIC Securities Limited Company(“CITIC Securities”,regulated by the China Securities RegulatoryCommission.Securities Business License Number:Z20374000).This report is being distributed in the United States by CITIC Securities pursuant to Rule15a-6(a)(2)under the U.S.Securities Exchange Act of 1934 exclusively to“major U.S.institutional investors”as defined in Rule 15a-6 and the SEC no-action,letters thereunder.,Z20374000,1934“,”,15a-6(a)(2),15a-6,