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BYD strengthens gripon EV market with Eagers Auto deal

BYD, which sells more electric vehicles in Australia than Tesla,is set for a further sales boost after the Chinese company agreed a five-yeardeal with Eagers Automotive, the nation’s biggest car dealership group.

Eagers will be the main retailer in Australia for BYD, which hasdoubled its sales in the past year and was the No. 10 brand of anyvehicle type in April.

BYD has also taken control of the import and distribution of itsvehicles into Australia through its BYD Australia entity, from the previousdistributor EV Direct.com.

Eagers has 12 per cent ofAustralia’s new vehicle retail market and sells a broad range of cars under brands including Toyota, Ford, Subaru, Hyundai, Kia, Honda, BMW and Volkswagen.

It currently sells the BYD brand at about 50 of its dealerships.

Eagers is 28.3 per cent owned bybillionaire Nick Politis, who is also chairman of the Sydney Roosters in theNational Rugby League competition. His stake is worth $1.3 billion, after hetopped up in early April with 60,000 extra shares at $14.83. Eagers shares havejumped 42 per cent since late February to $17.74.

BYD sales for the first four months of calendar 2025 reached11,974, more than double the 5891 sold in from January to the end of April in2024, a spokesman for the Federal Chamber of Automotive Industries said onMonday.

BYD outstripped Tesla in the first four months of 2025 as thebiggest-selling electric vehicle brand in Australia, with Tesla suffering aglobal backlash from founder Elon Musk’s closeassociation with US President Donald Trump’s administration.

BYD, which is part owned by Warren Buffett, signed on as a majorsponsor of the Sydney Roosters in late 2024, in a five-year deal where the BYDbrand is displayed prominently on the jerseys.

Eagers said on Monday the new retail agreement with BYD wouldbegin in July. It also said in its statement that other authorised dealersoutside the Eagers network may be appointed by BYD in the future.

Eagers is due to hold its annual meeting on May 28, with proxyadvisory firm Institutional Shareholder Services recommending shareholders voteagainst a resolution on chief executive Keith Thornton and chief operatingofficer Edward Geschke being granted five-year interest free loans to buyshares.