GXED(SH:600617) Huan Qiu Wang·2025-11-12 01:35Group 1 - The core viewpoint of the article highlights that in October, the sales of new energy vehicles (NEVs) in China surpassed 50% of total new car sales for the first time, reaching 51.6% [1] - In October, the production and sales of NEVs were 1.772 million and 1.715 million units, respectively, representing a year-on-year growth of 21.1% and 20% [1] - The China Association of Automobile Manufacturers (CAAM) suggests optimizing the "old-for-new" vehicle policy to stabilize market expectations, especially considering the half reduction in the purchase tax for NEVs next year [1] Group 2 - The article notes that despite the tightening of subsidy policies since September, the adjustment of the purchase tax policy is expected to stimulate car buying demand towards the end of the year, with market growth anticipated in the last two months of the year [4] - The overall automobile market experienced a slight contraction in October, with passenger car sales declining by 0.1% month-on-month, marking the first month-on-month decline in over a year [1] - For the first ten months of the year, the growth of new energy passenger vehicles was recorded at 21.9% [1]