Core Viewpoint - The automotive market is experiencing a surge in consumption during the traditional "Golden September and Silver October" period, driven by over 70 new car models entering the market and various local subsidies and incentives for car purchases [3][4]. Group 1: Market Dynamics - During the National Day holiday, over 23 cities in China hosted local auto shows, significantly boosting car sales through trade-in subsidies and local consumption vouchers [3]. - In Dongguan, despite the suspension of local trade-in subsidies, dealers are facilitating customers to claim subsidies from other cities, indicating a competitive market environment [4]. - The Chongqing Automotive Commercial Association has suggested a unified national standard for car trade-in subsidies to avoid confusion and risks associated with cross-city claims [4]. Group 2: Subsidy Programs - Various local governments are implementing car purchase subsidies, with Dongguan offering consumption vouchers for new energy vehicles and "National VI" gasoline cars, ranging from 1,000 to 3,000 yuan based on the vehicle price [4][5]. - Guangzhou's auto show introduced a "Golden September and Silver October" policy, allowing consumers to save up to 50,000 yuan through combined dealer and government incentives [5]. - The central government has allocated 3 trillion yuan in bonds to support the implementation of trade-in subsidies, with 1,620 billion yuan already distributed in two batches this year [6][8]. Group 3: Consumer Behavior and Trends - As of September 10, 2025, there have been 8.3 million applications for the car trade-in program, indicating strong consumer interest [8]. - The Ministry of Commerce aims to reform restrictive measures on car consumption, shifting focus from purchase management to usage management to stimulate new growth points in automotive consumption [8].

Core Insights - The automotive market is experiencing a surge in consumption during the traditional "golden September and silver October" period, with over 70 new car models entering the market and various local car exhibitions being held across more than 23 cities during the National Day holiday [1][6]. Group 1: Government Support and Subsidies - A total of 300 billion yuan has been allocated for the "old-for-new" vehicle replacement subsidy program, with the fourth batch of 69 billion yuan being distributed as planned in October [6]. - Various local governments are implementing their own automotive consumption subsidies to fill the gap left by the suspension of national subsidies in several provinces [6][7]. - For example, the government of Dongguan is offering consumption vouchers for new energy vehicles and "National VI" standard gasoline vehicles, with varying amounts based on the purchase price [4][5]. Group 2: Market Dynamics and Consumer Behavior - Despite the suspension of national subsidies in cities like Dongguan, dealers are finding ways to help consumers access subsidies from other cities, indicating a competitive market environment [3]. - The automotive industry is seeing significant promotional activities, with many car manufacturers offering substantial trade-in subsidies and promotional pricing strategies to attract customers [5][6]. - The application volume for the "old-for-new" program has reached 8.3 million as of September 10, indicating strong consumer interest in vehicle replacement [7]. Group 3: Future Outlook - The Ministry of Commerce aims to reform restrictive measures on automotive consumption and promote a shift from purchase management to usage management, which could foster new growth points in automotive consumption [7]. - The target for automotive sales in 2025 is set at approximately 32.3 million units, reflecting a year-on-year growth of about 3% [7].

东莞国庆车展现场，参展观众密集。 黄琳摄 第四批690亿元资金已按计划于10月下达。 10月伊始，汽车市场迎来传统"金九银十"消费旺季的第二个重要节点。随着70余款新车进入车市，国庆 8天长假期间，车市消费迎来新一轮的爆发期，据第一财经记者不完全统计，今年国庆期间，全国超23 座城市举办了地方车展，通过以旧换新置换补贴、地方消费券等形式，推动汽车消费。 在东莞国庆车展现场，广汽丰田、一汽丰田、东风日产启辰等多家车企4S店销售告诉记者，东莞市的 以旧换新补贴已经暂停，但是可以帮助消费者开其他城市的发票，以此抢得其他城市的以旧换新补贴名 额。 有现场销售表示："虽然东莞没有了国补，但是我们的经销商集团在全国都有门店，所以能够在全国范 围内寻找补贴名额。目前，福建、四川等地还有少量的汽车以旧换新补贴可以抢。"现场还有合资品牌 销售提出代抢其他城市的补贴名额需要3000元代抢费，他称："因为是跨城抢补贴，所以这笔代抢费需 要由消费者支出，给到当地门店经销商，由他们代抢名额。" 重庆市汽车商业协会已向国家有关部门提出建议，希望全国统一标准，规范购车置换补贴标准。对于补 贴可跨省申领的许诺，业内人士提醒不要轻信，小心风险 ...