From January to May, Chinese independent car manufacturers sold 940,000 units overseas, up 58% YoY, according to the China Passenger Car Association (CPCA). The export growth is driven by the competitive pricing of fuel vehicles, resilient new energy vehicle exports, and a significant increase in contributions from Russia. Meanwhile, China’s domestic car sales dropped 6.9% YoY in June, continuing a three-month decline despite government incentives amid a slow economic recovery, according to the CPCA. New energy vehicles hit a record 48.1% of June’s domestic sales.