Di Yi Cai Jing·2026-01-05 08:40Group 1 - The core viewpoint of the news is that Hong Kong automotive stocks are experiencing a significant decline, with major companies like NIO, Great Wall Motors, and Xpeng Motors seeing drops of over 6%, nearly 6%, and over 5% respectively, marking new lows since their listings in September 2025 [1][2] - Other Hong Kong automotive stocks such as Leap Motor, Geely, Li Auto, and BYD are also facing varying degrees of decline [2] - A document titled "2026 New Year's Day Car Market Passenger Flow Decline Communication" has circulated among institutions, indicating that passenger car traffic during the 2026 New Year's holiday has decreased compared to the same period in 2025 [3] Group 2 - The decline in passenger flow is attributed to increased vehicle purchase costs due to adjustments in the 2026 new energy vehicle purchase tax policy, leading to consumer hesitation [3] - Despite several automakers offering purchase subsidies, these "safety net" policies have not significantly attracted consumers [3] - There is potential for consumer demand to be released if the purchase costs in January are more favorable compared to December and November of the previous year, with market conditions needing to be observed in the following week [3]