Zheshang International reported that, according to its calculations, the average discount in the automobile industry in December expanded by 0.6 percentage points compared to the previous month, mainly driven by Chinese automakers such as BYD, LEAPMOTOR, and Chongqing Changan Automobile. Considering the improvement in scale effects and discount recovery, it is expected that the profits of major leading Chinese automakers will remain resilient last season. On the other hand, the report indicated that most foreign brands' discounts reached a historical high in 2024, while their combined market share has declined by about 10 percentage points year on year. Considering that over 140 new Electric Vehicles will be launched in 2025, even surpassing the 127 models in 2024, it is expected that the price war will continue to spread into 2025.