Ge Long Hui A P P·2025-08-08 01:21Group 1 - The recent issuance of the third batch of "old-for-new" national subsidies is expected to improve consumer sentiment in the passenger car sector [1] - From 2026 to 2027, the exemption of purchase tax for new energy vehicles will be adjusted from full exemption (up to 30,000 yuan) to a 50% reduction (down to 15,000 yuan) [1] - The reduction in purchase tax exemptions is anticipated to lead to an upward beta trend, benefiting brands in the 300,000 yuan price range as the product cycle shifts from weak to strong [1] Group 2 - The imminent implementation of L2 autonomous driving national standards is expected to catalyze further industry trends [1] - The recovery of domestic demand for commercial vehicles and the rising export sentiment to non-Russian markets have led to leading companies exceeding performance expectations in the first half of the year [1] - The stable low valuation attributes of these leading companies continue to attract defensive capital [1]