Based on the analysis conducted by the China Association of Automobile Manufacturers (CAAM), in the first three quarters of this year, China witnessed a slight downturn in automobile production and sales. The market exhibited a trend characterized by "coolness at home and warmth abroad". Influenced by a multitude of factors, the domestic automobile market continued to grapple with persistent pressure, showing no marked signs of improvement. Nevertheless, despite a complex external environment, exports maintained a robust growth trajectory, underscoring the industry's strong resilience. Simultaneously, new growth drivers within China continued to surface, with the share of new energy vehicle sales steadily climbing. Looking forward to the fourth quarter, the industry is projected to maintain stable operations. Exports are likely to sustain their growth momentum, potentially surpassing 10 million units for the entire year. Moreover, all 250 billion yuan in funds earmarked for consumer goods trade-in programs have been disbursed. Existing policies are expected to further amplify their implementation effects. Coupled with consumer promotion activities initiated by local governments and enterprises, the decline in domestic market sales is anticipated to narrow.