According to the Smart Finance APP, the entire automotive industry chain plummeted, as of the time of publication, Nexteer (01316) fell by 11.38% to 2.96 Hong Kong dollars; Xpeng Auto-W (09868) fell by 8.5% to 46.3 Hong Kong dollars; Great Wall Motor (02333) fell by 4.39% to 14.82 Hong Kong dollars; Meidong Auto (01268) fell by 9.43% to 2.4 Hong Kong dollars.

On the news front, USA Republican presidential candidate Trump stated that he will impose new tariffs to prevent Chinese auto manufacturers from producing cars in Mexico and exporting them to the USA. Trump had previously mentioned imposing tariffs as high as 200%, and this time he suggested that even higher tariffs could be imposed. In addition, on October 12, the spokesperson for the China Ministry of Commerce responded to the "EU electric car anti-subsidy case EU consultations" related issues, stating that the EU has always failed to actively respond to key concerns of the Chinese and EU industries, with major differences remaining between the two parties. So far, no mutually acceptable solution has been reached in the consultations.

Southwest Securities pointed out that recently, Hubei, Wenzhou, and other places have successively introduced specific implementation plans for trading in old cars for new, with continuous escalation of subsidies for the old-for-new policy in various regions. Data from the Ministry of Commerce shows that as of midnight on October 4th, the national car exchange platform has received a total of 1.258 million subsidy applications, with subsidy applications continuing to grow. From January to August, the national scrapped car recovery volume was 4.21 million vehicles, a year-on-year increase of 42.4%, exceeding 90% of the annual scrappage volume for 2023. With the combined efforts of the central government, local governments, and enterprises, the old-for-new car policy has shown significant effectiveness.