Fangzheng Securities: It is expected that the car market in the fourth quarter will continue to grow compared to the previous quarter.

Fangzheng Securities research report stated that the car market is expected to continue growing in the fourth quarter, with the sector currently trading at a PE-TTM below the 50th percentile in the past five years after experiencing a pullback. It is expected to continue to rebound in November and December, with the recovery of exports in the fourth quarter and next year. The pessimistic expectations for the first quarter of next year are gradually being digested and bottoming out. Focus on the opportunities for low-level supplementation in sub-sectors of the automotive sector under high and low switching within the sector; leading companies in sub-sectors with high overseas market share and strong profitability; and companies with stable underlying fundamentals and external catalysts.