Chinese EV brand BYD reports record sales

This brand is giving Tesla executives nightmares.

While Tesla has had to cut its prices in the face of falling sales, Chinese automotive giant BYD is on the verge of setting a new monthly sales record.

The brand’s success suggests that Australian drivers have not yet put the brakes on battery-powered vehicles.

David Smitherman, managing director of BYD’s Australian importer EVDirect, said the manufacturer sold more metal last month than at any other time in its short history, suggesting that reports that the electric vehicle market was in trouble were completely wrong.

“We don’t see that,” he said.

“We are definitely seeing increased activity across our business. Our websites are seeing very strong demand, as are our dealers.

“I think the competition is definitely getting tougher, that’s for sure, as more and more products are being offered.”

BYD sold more than 1,900 electric cars in May, significantly more than the previous record of 1,622 vehicles.

The strong result comes after Tesla, Ford, Renault, Peugeot and Polestar have drastically reduced the costs of electric cars in recent weeks.

While electric vehicle sales are not declining, the pace of growth has slowed, leading executives like Damien Meredith, CEO of Kia Australia, to say that “the early adopters have got their cars.”

Electric vehicle sales in Australia have increased from about 1,900 per month in 2022 to 8,000 per month this year.

Electric cars have driven the success of Chinese vehicles in Australia, with their numbers increasing tenfold in the last five years.

Cherrybrook parents Indrakumar Prasanna and Krishani Prasanna purchased a BYD Seal sedan in May.

“When BYD came to the market a few years ago, I was one of the first to register and get on the waiting list,” said Mr Prasanna.

“Then I heard about the seal – I was waiting for it to come out.”

Ms Prasanna said it was “definitely the design” that convinced her to go for a BYD rather than a Tesla, but she is not yet ready to sell the family the Hyundai Santa Fe with its combustion engine.

“Long trips and the like require a little more planning, so we stick with the car we have – the family SUV.”

“We had been thinking about an electric vehicle for some time and wanted to wait to develop electric cars until the charging infrastructure was ready in Australia.

“We recently bought a house with solar panels and batteries and are considering purchasing an electric car.

“We also thought about the environment and the carbon footprint.”

Mr Smitherman said electric vehicle sales were expected to continue to rise and that BYD was planning to overtake Tesla in the sales charts.

“We are the world’s leading brand for alternative fuel vehicles. Our absolute goal is to be number one in Australia,” he said.

“Our goal is to double our sales year on year… we are on track and are bringing more vehicles to market.”

Leave a Comment