BYD announces stunning Australian sales and new model ambitions

Electrified vehicle manufacturer BYD has announced a stunning ambition to double its sales every year in Australia out to at least 100,000 in 2026, driven by the roll-out of as many as five new models each year.

The plan is to eventually have a BYD model on sale in every new-vehicle sales segment Down Under.

The incredible display of high-speed sales growth ambition and product muscle came from Australian BYD distributor EVDirect’s new CEO, David Smitherman, rather than his boss Luke Todd, who has often been prone to making bold – if not outrageous – claims.

“What you will see from us this year, next year and the year after is significant roll-out of product,” Smitherman promised.

“And when we talk about volume and opportunity we all know it is always product-led.

“We look at the models available in China and we are pushing real hard to get those vehicles in right-hand drive in Australia.

“We want to change the automotive industry in Australia. We want to make sure we have product for every segment.”

But one thing Smitherman – a 25-year Australian auto industry veteran who started out at Daewoo in 2000 – stopped short of was backing Todd’s claim that BYD would topple Toyota from the top of the Aussie sales ladder.

“I’m not going to be quoted on that sort of thing,” Smitherman said.

Smitherman was speaking to carsales during the local presentation of the plug-in hybrid BYD Seal U mid-size SUV – a direct rival for the top-selling Toyota RAV4 – in Victoria on Thursday. Information about that vehicle is embargoed until May 16.

It will soon join the battery-electric Atto 3 small SUV, Seal sedan and Dolphin hatch in local BYD showrooms.

Smitherman confirmed the Seal U would be joined by two or three other new BYD models in Australia in 2024, potentially including the all-electric Seal U, the much ballyhooed plug-in hybrid ute we expect to be called Shark and one other unspecified model.

While he declined to nominate how many new models we can expect to see launched in Australia by BYD per annum in coming years, he did not resile from an estimate of up to five.

“We could absolutely [launch up to five new models each year],” he said.

BYD sold 12,438 vehicles in Australia in 2023. It intends to double that to 25,000 in 2024 and is currently 113 per cent up on sales.

It wants to double sales again to 50,000 in 2025. Asked if he wanted the progression to continue to 100,000 per annum in 2026, Smitherman said: “I hope so”.

“We have some pretty strong ambitions and our business is gearing itself up for growth.”

Achieving 50,000 sales would position BYD in the top 10 list of auto brands in Australia, while 100,000 sales would put it in the fight for number two in the sales race.

On that timeline BYD will also register its 100,000th cumulative Australian sale in 2026, only four years after its launch.

“It took 18 years for Toyota to sell 100,000 hybrids in market,” Smitherman pointed out. “It took Tesla 10 years to sell 100,000 [EVs].”

The sales volume will be achieved on the back of a dramatic and consistent new model roll-out, with a strong initial focus on the popular SUV segments.

“For us to have these aspirations of significant growth I have to make sure we have all of the key segments covered around small, medium and large SUVs,” Smitherman said.

But Smitherman was also clear that traditional sedan passenger vehicles such as the Qin L PHEV (a Toyota Camry rival) that will launch at next week’s Beijing show are also on the agenda.

“We have got to have very segment covered,” he said.

The expansion will include both battery-electric and plug-in powertrains, reflecting BYD’s global mix.

The dramatic BYD model expansion in Australia will be accompanied by a 500 per cent lift in marketing spend and an expansion of the dealer network from 35 outlets today to more than 70 by the end of 2024.

“You will see a huge investment this year in marketing, in awareness, in vehicle awareness,” Smitherman promised.

The public declaration of such bold aims comes in the wake of BYD founder and chairman Wang Chuanfu and his full executive team making a whistle-stop tour of Australia a couple of weeks ago.

During that visit Smitherman said the EVDirect team gained the chairman’s personal commitment of increased support and access to current and forthcoming new models.

“We were able to show them competitor products, they were able to drive around and see the importance of SUVs, the importance of utes, the size of our vehicles,” Smitherman said.

“Straight up, what that presented for us is an opportunity to get more products to market.”

Smitherman has also recently toured BYD facilities in China and came away completely convinced that the aims he has now publicly espoused are achievable.

“I have been in the auto industry for 25 years. I have been to Asia, I have been to Europe, I have been to the USA, but what I saw with BYD as it stands as a business is enormous.

“For example, BYD has 90,000 engineers. The design centre is unbelievable.

“We all know BYD outsold Tesla last year, but I don’t think the average Australian would know BYD also outsells Mercedes-Benz, Subaru and Audi, for example.

“It’s quite a staggering story.”

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