商用车内需修复和海外出口景气度上行

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长城证券:新车周期叠加购置税减半政策 新能源BETA上行在即
智通财经网· 2025-08-07 09:29
Group 1 - The core viewpoint of the report indicates that the recent issuance of the third batch of "old-for-new" national subsidies is expected to improve consumer sentiment in the passenger vehicle sector [1] - The adjustment of the new energy vehicle purchase tax from full exemption to a 50% reduction in 2026-2027 is highlighted, with the maximum exemption decreasing from 30,000 yuan to 15,000 yuan [1] - The report suggests that the reduction in tax incentives will lead to an upward beta trend, benefiting brands in the 300,000 yuan price range as the product cycle shifts from weak to strong [1] Group 2 - The imminent implementation of L2 intelligent driving national standards is anticipated to further strengthen industry trends amid concentrated catalysts [1] - The recovery of domestic demand in the commercial vehicle sector and the rising export sentiment outside of Russia have resulted in leading companies exceeding performance expectations in the first half of the year [1] - The stable low valuation attributes of these leading companies continue to attract defensive capital [1]