The highly-anticipated 42 day-long festival season in 2021 witnessed a decline in the country’s automobile retail sales by 18% on a YoY basis, selling nearly 20,90,893 units of vehicles this festive season, compared to about 25,56,335 units sold in the same period last year.
The vehicular units included in the count are passenger vehicles, two-wheelers and tractors.
The reason for this decline in vehicle sales is the ongoing global semiconductor chip supply slump.
Also in focus is the dramatic surge in China’s live e-commerce boom.
#AutomobileSector #AutomobileSales #Chinaliveecommerce #BusinessToday
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