招商证券国际：料内地汽车行业全年实现高单位数增长

Core Insights - The domestic automotive industry in China has seen positive effects from the vehicle trade-in policy this year, with expectations of high single-digit growth, surpassing initial market and official forecasts [1] - The necessity to further stimulate vehicle sales in the fourth quarter is reduced due to stable cross-year growth [1] - Although there may be disruptions in early next year due to subsidy reductions, flexible adjustments to trade-in policies can still support growth in the automotive sector [1] Company Recommendations - The report recommends several companies for investment, including XPeng Motors (09868), Geely Automobile (00175), Minth Group (00425), BYD Company (01211), and Li Auto (02015) [1]