Core Viewpoint - The traditional peak sales season for the automotive industry, known as "Golden September and Silver October," has seen a significant reduction in promotional efforts this year, with discounts primarily ranging from 2,000 to 3,000 yuan, compared to previous years where discounts were more substantial [1][3][9]. Group 1: Promotional Activities - Seven automotive brands have announced National Day promotional policies, including Li Auto, Xpeng Motors, GAC Honda, GAC Toyota, FAW Toyota, FAW Audi, and SAIC Volkswagen, with promotions mainly consisting of cash subsidies and trade-in incentives [3][5]. - The maximum discount offered by GAC Toyota is 51,000 yuan, but the actual additional discount for consumers is only about 3,000 yuan due to existing promotions [6]. - Li Auto is providing a significant promotion with a trade-in subsidy of 15,000 yuan and a limited-time financial rate of 1.99% [8]. Group 2: Market Conditions - The automotive industry is experiencing a price war, leading to car prices being at a low point, which limits the potential for further discounts during the National Day period [9][10]. - Data from the China Passenger Car Association indicates that the profit margin for the automotive industry has been declining, with an average profit margin of 4.5% for the first eight months of the year [9][11]. - A report from the China Automobile Dealers Association reveals that only 30.3% of dealers met their sales targets in the first half of the year, with 52.6% reporting losses [11][13]. Group 3: Dealer Perspectives - Dealers are reluctant to offer significant discounts during the National Day promotions, as many are already selling at a loss and rely on manufacturer rebates [10][11]. - Dealers are expected to allocate more promotional funds towards year-end sales rather than during the National Day period, anticipating greater promotional efforts later in the year [10][11].