China securities co.,ltd. research reports indicate that the automotive industry is accelerating the effect of trading in old for new. With the gradual follow-up of local subsidies, the wait-and-see demand is further released, and the effect of consumer potential release is better than expected. Since September 24th, with positive macro attitudes gradually warming, automobiles as a significant factor in macro support and consumer subsidies for trading in old for new are expected to usher in a new round of market trends. At the current juncture, bullish on positioning in mainstream markets (high subsidy elasticity), high proportion of new energy funds (high subsidy amount), and the main line of Huawei.