On October 12, the China Association of Automobile Manufacturers (CAAM) released an analysis indicating that in the first three quarters of this year, China's automobile production and sales volumes experienced a slight downturn, with the market exhibiting a distinct pattern of "domestic chill contrasted with overseas vigor."

The domestic automobile market, influenced by a multitude of factors, continues to grapple with persistent pressure, and significant improvements are still pending. Nevertheless, despite a challenging external environment, exports have sustained a robust growth trajectory, showcasing remarkable resilience.

Simultaneously, new domestic growth catalysts are steadily being unleashed, with the share of new energy vehicle sales consistently on the rise.

As we look forward to the fourth quarter, the industry is poised for a smooth operational course, with exports anticipated to continue their upward trend, potentially surpassing the 10 million vehicle mark for the entire year.

Moreover, the full allocation of 250 billion yuan in funds aimed at replacing old consumer goods with new ones is set to further amplify the efficacy of existing policies. When combined with local and corporate efforts to stimulate consumption, it is expected that the decline in domestic market sales will gradually narrow.