New Delhi. Big industries and markets have suffered during the Corona period. Among these is the Chinese car market. November 2021 has been a loss month for the world’s largest car market. The reason for this is a huge drop in sales. According to a recent report, China’s car market has suffered a major setback last month. If we talk about November only, then according to the latest industry data, China’s car market has seen a decline of 9.1% in sales in this one month itself, which is a big loss.
What do the figures say?
Recently released data from the Chinese Association of Automobile Manufacturers (CAAM) shows that only 25,20,000 vehicles were sold in China last month. In terms of population, these figures are quite low for the number one country. Also, if compared with the previous year also, there has been a sharp decline in sales in November 2021 as compared to November 2020.
Main reason for the drop in sales
The main reason for the sharp decline in sales in China’s car market is the worldwide shortage of semiconductor chips. Semiconductor chips are a very important part of car production. But due to the Corona epidemic, the pace of semiconductor business around the world slowed down, which has affected not only the car market in China, but also the car market around the world. Not only this, all the industries based on semiconductor chips have suffered during the Corona period. And even the world’s largest car market could not save itself from this loss, and it also suffered a huge drop in sales.
Electric vehicles gave relief
For some time, the production and use of electric vehicles has also increased due to the increasing demand for electric vehicles around the world. This has given some relief to the Chinese car market. A total of 4,50,000 electric vehicles were sold in China in November 2021, showing a gain of 121% in the segment.
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