Car Retail Sales Drop 24% in October
Automobile retail sales fell 24 per cent in October compared with a year earlier. Both the two-wheeler and passenger vehicle segments declined. The report links the sharp fall mainly to a very high base last year, which makes this year's numbers look weak by comparison.
Context
Context: A base effect means this year's numbers look weak mainly because last year's figures were unusually strong, not necessarily because demand has collapsed. Festive season buying is a key driver for car and two-wheeler makers.
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