智通财经网·2026-01-05 02:27Core Viewpoint - The automotive stocks are experiencing a decline, with significant drops in shares of major companies such as Great Wall Motors, XPeng Motors, and Li Auto, amidst the announcement of the continuation of the vehicle trade-in subsidy policy for 2026 [1] Group 1: Market Performance - Great Wall Motors (02333) shares fell by 6.42%, trading at HKD 14.15 [1] - XPeng Motors-W (09868) shares decreased by 4.04%, trading at HKD 77.1 [1] - Li Auto-W (02015) shares dropped by 1.98%, trading at HKD 66.7 [1] Group 2: Policy Impact - The vehicle trade-in subsidy policy will continue into 2026, with a total of CNY 625 billion allocated for the first batch of funds to support consumer trade-ins [1] - The 2026 subsidy policy maintains the maximum subsidy amount compared to 2025 but introduces more precise subsidy methods based on vehicle price [1] - The 2025 fixed subsidy successfully boosted sales of low-priced models, while the 2026 policy links subsidies to vehicle prices, potentially benefiting mid to high-end automotive consumption [1]