Australia EV prices: New BYD in China for AUD $9555 stuns world

Some of the newest EVs being released in China have all the tech for prices as low as AUD $10k. But will Aussies get access?

Remember when you could drive away in a brand-new car for $10,000 or even $20,000?

Those days are long gone.

A decade ago, there were over 25 models classified as micro or light vehicles.

In 1999, the Daihatsu Sirion, the cheapest car in Australia-Asia at the time, cost $11,990 before on-road costs.

Today, in Australia, there are just five truly compact cars – the Kia Picanto, Mazda 2, MG 3, Suzuki Swift and Toyota Yaris, and none retail for less than $20,000 drive-away,

While affordability has become a major concern for Australian buyers, other markets still hae budget-friendly options.

BYD’s Seagull electric car. Picture: Supplied

In China, BYD recently made headlines for offering its advanced autonomous driving features on most of its models including ones priced as low as AUD $9,555 (69,800 yuan), like the Seagull, a compact electric vehicle.

Could a sub-$10,000 BYD ever make its way to Australia? It’s unlikely.

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The Daihatsu Sirion was one of Autralia’s cheapest ars. Picture: Supplied

David Smitherman, chief executive of BYD distributor EV Direct, said it was unlikely that Australians would see a $10,000 BYD anytime soon.

“Our scale and our size allows us to be very competitive on price. But at the same time, we want to make sure that we’re maintaining strong residual value for our consumers,” he said.

The challenge lies in the cost of bringing a car like the Seagull to Australia.

It would be impossible to keep the low price point with regulatory compliance, shipping and safety requirements.

Smitherman explained BYD’s pricing is always going to be aggressive.

For example, the BYD Dolphin starts from $29,990 plus on-roads in Australia, making it the nation’s cheapest electric car.

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2023 BYD Dolphin. Photo: Thomas Wielecki

Smitherman said the long-term strategy in Australia is centred around high volume in the medium size SUV and ute segments preferred by many customers.

“Clearly, we’re now in that big segment, right? So as a brand, we’re after pushing into SUV and Utes is where we will get significant volumes. … Sealion 7 will slide in very well for that medium sized SUV. You know, bearing in mind, we know the last two years, the number one selling vehicle globally has been in that segment.”

Even before the flood of new electric vehicles (EVs), the price for entry-level new cars in Australia was rising.

Cox Automotive Australia corporate affairs manager Mike Costello explained the days of a $20,000 new car have ended.

“It’s safe to say that $25,000 is the new $20,000 given inflation, but customers after a particularly low-cost new car have fewer choices than they used to, in large part due to the rise in popularity of higher-riding SUVs.” he said.

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Suzuki’s Swift is an affordable option. Photo: Supplied

With new car prices continuing to climb, many are turning to the used car market but unfortunately that option isn’t as cheap as it once was.

Cox Automotive data reveals that the average selling price of a used vehicle has jumped 27.8 per cent since December 2019, significantly outpacing general inflation.

Lower cost cars have recorded the highest rice rises.

Used hatchbacks and sedans have recorded price increases of 37.5 per cent since 2019.

The trend is even more significant for older vehicles.

Passenger hatchbacks and sedans aged 8-10 years have skyrocketed up 60.8 per cent in just five years.

There could be good news for consumers though, Costello explained.

“The good news for consumers is, with more choice and supply continually coming into the new market in 2025, we expect to see more incentives and keener pricing from many brands, driven in large part by the rollout of sharply priced vehicles from emerging Chinese competitors.” he said.

“This should in turn see a degree of downward pressure on later-model used cars, at least in some corners of the market.”

Originally published as Australia EV prices: New BYD in China for AUD $9555 stuns world