China exports more cars than Japan on sales surge to Russia

The group projects global light vehicle sales to climb 5 percent this year, mainly on surging demand for EVs. It’s seeing a 10 percent jump in the U.S., 6 percent growth in Europe and 3 percent./ expansion in China.

In the world’s biggest auto market, homegrown carmakers will likely outsell their foreign rivals for the first time this year in over four decades, AlixPartners said, adding that local brands are better at delivering what tech-savvy younger buyers want.

Foreign automakers have struggled to maintain their position in China, raising questions about their long-term future in the country. Business for the likes of Volkswagen and General Motors has become more challenging as local rivals roll out a slew of electric models.