Chinese EV brand BYD reports record sales

This is the brand that’s giving Tesla executives nightmares.

While Tesla was forced to cut prices due to declining sales, the Chinese giant BYD is preparing to record a new monthly sales record.

The brand’s success suggests Australian motorists have yet to put the brakes on battery-powered vehicles.

David Smitherman, chief executive of Australian importer BYD EVDirect, says the manufacturer moved more metal last month than at any time in its short history, suggesting reports that the electric vehicle market is in trouble were far from over. target.

“We’re not seeing that,” he said.

“We are certainly seeing an increase in activity across our business, our websites are seeing very strong demand, as are our retailers.

“I think the market is becoming very competitive, that’s for sure, with a lot more products on offer.”

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

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

While EV sales are not declining, the rate of growth has slowed, prompting executives such as Damien Meredith, managing director of Kia Australia, to suggest that “early adopters have their own cars”.

Electric vehicle sales in Australia have grown from around 1,900 per month in 2022 to 8,000 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 purchased a BYD Seal sedan in May.

“As soon as BYD entered the market a couple of years ago, I was one of the first to sign up and be on the waiting list,” Prasanna said.

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

Ms Prasanna said it was “definitely the design” that made them sell on a BYD rather than a Tesla, although she isn’t ready to sell the family’s combustion Hyundai Santa Fe.

“Long trips and things like that require a little more planning, so we’re holding on to the car we have – it’s the family SUV.”

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

“We recently purchased a house with solar and battery power, with plans to get an electric car in mind.

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

Smitherman said that electric vehicle sales are expected to continue to grow and that BYD expects to overtake Tesla in the sales rankings.

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

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

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