智通财经网·2025-11-21 07:16Core Viewpoint - The automotive sector is experiencing a decline in stock prices, particularly for companies like Xpeng Motors, Great Wall Motors, GAC Group, and Li Auto, following the release of third-quarter earnings that did not meet expectations [1] Group 1: Stock Performance - Xpeng Motors-W (09868) fell by 4.34% to HKD 78.3 - Great Wall Motors (02333) decreased by 4.05% to HKD 14.47 - GAC Group (02238) dropped by 2.76% to HKD 3.17 - Li Auto-W (02015) declined by 1.78% to HKD 68.8 [1] Group 2: Market Outlook - Analysts suggest that the financial data of some new energy vehicle companies fell short of expectations, leading to significant stock declines [1] - The fourth quarter is expected to maintain high growth in the new energy vehicle sector, despite ongoing price reductions [1] - The reintroduction of the new energy vehicle purchase tax in 2026 may alter the competitive landscape, potentially allowing traditional fuel vehicles to regain market share [1] Group 3: Investment Strategy - According to Everbright Securities' strategist, the automotive industry will see a divergence, with a focus on companies showing strong growth momentum [1] - The anticipated 5% purchase tax in the coming year poses challenges for automotive companies but may also serve as a filtering mechanism, benefiting more competitive firms [1] - Long-term impacts of policy changes may not necessarily be negative for leading companies in the sector [1]