On July 26, Gelunhui reported that Chinese concept car stocks rose before the market, with NIO up more than 1% and Xpeng up 0.85%. In a report released by Daiwa, it was pointed out that the mainland has raised the subsidy standard for scrapping old cars and purchasing new ones. Individuals who scrap national III and lower-emission standard fuel passenger cars or new energy passenger cars registered before a specified date and purchase new energy passenger cars or passenger cars with a displacement of 2 liters or less that are included in the <> will receive an increased subsidy of RMB 0.02 million for purchasing new energy passenger cars or RMB 0.015 million for purchasing passenger cars with a displacement of 2 liters or less. The bank believes that the stable vehicle pipeline and stimulus measures should boost fourth-quarter car sales growth, but may raise concerns about the erosion of car sales in 2025.