Eagers Automotive, the nation’s biggest car dealership group, will no longer be the exclusive retailer for BYD in Australia despite locking in a new five-year deal to sell the fast-growing Chinese electric vehicle brand.
BYD, which now sells more cars in Australia than Tesla after doubling its sales in the past year, has also taken control of the import and distribution of its vehicles as part of changes announced to Eagers investors on Monday.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com