BYD reports record sales in ‘really strong’ period

While leading electric car brands have discounted their cars in response to softening demand, one newcomer is enjoying a boom in sales.

This is the brand that is giving Tesla executives nightmares.

While Tesla has been forced to slash prices in the face of declining sales, Chinese giant BYD is about to post a new record for monthly sales.

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

David Smitherman, chief executive of Australian BYD importer EVDirect, says the manufacturer moved more metal last month than any other time in its short history, suggesting reports claiming the EV market is in trouble were wide of the mark.

“We’re not seeing that,” he said.

“We’re certainly seeing increased activity across our business, our websites are recording really strong inquiry, as are our dealers.

“I think it’s certainly getting very competitive out there, that’s for sure, with a lot more product being offered.”

BYD electric cars ready for delivery in Sydney. Photo: Thomas Wielecki

BYD sold more than 1900 electric cars in May, well more than its previous record of 1622 vehicles.

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

While EV sales are not falling, the rate of growth has slowed, prompting executives such as Kia Australia chief executive Damien Meredith to suggest that “the early adopters have got their cars”.

BYD electric cars awaiting to be loaded onto a ship at the international container terminal of Taicang Port in China. Photo: AFP / China OUT

EV sales in Australia have grown from about 1900 per month in 2022 to 8000 per month this year.

Electric cars have driven the success of Chinese-built vehicles in Australia, which have increased tenfold in the past five years.

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

“As soon as BYD came into the market a couple of years ago, I was one of the first to register and be on the waiting list,” Mr Prasanna said.

“Then I heard about the Seal – I’ve been waiting for it to come out.”

Indrakumar Prasanna and Krishani Prasanna bought a BYD Seal in May 2024. Photo: Thomas Wielecki

Mrs Prasanna said it was “definitely the design” that sold them on a BYD as opposed to a Tesla, though she isn’t ready to sell the family’s combustion-powered Hyundai Santa Fe.

“Long drives and things like that take a little bit more planning, so we are hanging on to the car we have – that’s the family SUV”.

Indrakumar Prasanna and Krishani Prasanna bought a BYD Seal in May 2024. Photo: Thomas Wielecki

“An EV has been something on our mind for a while, and electric cars were something we wanted to wait for, for the infrastructure to be ready in Australia, for charging.

“We recently bought a house which has solar, and a battery, in mind to get an electric car.

“We’ve also been thinking about the environment and carbon footprint reasons around it.”

Mr Smitherman said EV sales were expected to keep rising, and that BYD planned to overtake Tesla on the sales charts.

“We’re the number one new energy vehicle brand in the world … our goal is absolutely to be number one in Australia,” he said.

“Our objective is to double our sales year on year … we’re on track for that and we have more vehicles coming to market.”