BYD’s staggering Australian ambitions: Electrified mega-brand plans sales explosion and new model avalanche

Talk about turning dreams into reality! BYD has outlined a stunningly ambitious new model roll-out and sales growth plan in Australia.

Essentially, the Chinese electrified vehicle specialist wants double sales each year to reach 100,000 sales per annum in 2026 in Australia on the back of up to five new model launches each year.

BYD (which stands for Build Your Dreams) sold just under 12,500 cars in Australia in 2023. It plans to reach 25,000 in 2024, 50,000 in 2025 and 100,000 in 2026.

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“We have some pretty strong ambitions and our business is gearing itself up for growth,” David Smitherman, the CEO of local BYD distributor EVDirect told EV Central.

Achieve 50,000 sales and BYD will comfortably be in the top 10 sellers in Australia. Achieve 100,000 sales and it will be in the fight for number two in the sales race.

The plan has the backing of BYD founder and chairman Wang Chuanfu who briefly visited Australia this month with his executive team.

“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.

That roll-out will start mid-year with the launch of BYD’s first plug-in hybrid in Australia, the Seal U medium SUV.

The three previous models launched in Australia by BYD – the Atto 3 small SUV, Dolphin mini and Seal sedan – have all been battery electric.

A battery electric equivalent of the Seal U is expected is also expected in 2024 and the high-anticipated dual-cab ute plug-in ute – expected to be called the Shark – is also expected in 2024, although Smitherman would not guarantee it.

“Guarantee is a big word right?” Smitherman said.

“We are certainly pushing it, cars are being tested and we are certainly pushing it.”

The multi-year new model avalanche is designed to establish BYD in every vehicle sales segment, with a strong initial focus on SUVs.

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

But Smitherman was also clear traditional sedan passenger vehicles such as the Qin L PHEV 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 new model roll-out will be accompanied by a doubling of the BYD dealer network from 35 to more than 70 by the end of 2024 and a 500 per cent lift in marketing spend to promote the brand.

“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.”

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 back away from an estimate of up to five.

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

But one thing Smitherman avoided was commenting on EVDirect founder Luke Todd’s claims that BYD wanted to topple Toyota from its dominant position atop Australia’s new vehicle sales charts.

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