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And this can be achieved by hosting livestreaming sessions, a popular way of remotely engaging buyers expedited by the social distancing policy. Alibaba is expecting some 400 company executives and 300 internet celebrities to endorse a variety of offerings, including even eye-catching bigger items from automobiles to apartments.

Analysts said that deepening legal and administrative reform, transforming the roles of the government in economic activities and creating a level playing field and a transparent business environment hold far-reaching significance as the country's economic expansion decelerates and the economy undergoes a long-term transition toward an innovation- and consumption-driven growth model.

Analyst Neil Saunders, managing director of GlobalData Retail, said that "while the company is still viable, doing business has become far more challenging and these problems will only increase."

And it happened "in the blink of an evolutionary eye", which makes it harder to figure out what happened, said Graham Slater, lead author of the study.

Analysts said it is essential for carmakers to cooperate in the development of new technologies that demands a lot of money, especially when the new car market has not been satisfactory.