According to the research reports by huaan, in the passenger vehicle sector, the launch of new energy autos subsidy in rural areas and the implementation of scrappage policy will stimulate the market by releasing consumers' pent-up demand and sustaining exports, which is expected to boost the autos industry. It is recommended to focus on 4 investment themes in the autos industry: 1) Honor Smart Cars; 2) For the commercial vehicle sector, sales volumes of heavy-duty trucks will be under pressure during the off-season of Q2, but the structural improvements of gas and new energy heavy-duty trucks will fuel price increases for exports. 3) Passenger vehicle exports continue to grow rapidly, coupled with domestic renewal and replacement, leading to a strong market for the passenger vehicle sector. 4) Parts and components, and so on.