According to the changes in the national passenger car industry inventory reported by China Passenger Car Association, the overall inventory of the national passenger car industry decreased by 1% year-on-year in October, indicating that the overall industry is currently in a destocking cycle. Specifically, the mainstream fuel passenger car industry inventory decreased by 6% year-on-year in October, indicating that the overall mainstream fuel passenger car industry is currently in a destocking cycle. The new energy passenger car industry inventory increased by 81% year-on-year in October, indicating that the overall new energy passenger car industry is currently in an accumulation cycle.