Latest news with #Eagers
Yahoo
3 days ago
- Automotive
- Yahoo
Eagers Automotive's (ASX:APE) Returns On Capital Are Heading Higher
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at Eagers Automotive (ASX:APE) and its trend of ROCE, we really liked what we saw. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Eagers Automotive is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.18 = AU$538m ÷ (AU$5.5b - AU$2.4b) (Based on the trailing twelve months to December 2024). So, Eagers Automotive has an ROCE of 18%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Specialty Retail industry average of 16%. View our latest analysis for Eagers Automotive In the above chart we have measured Eagers Automotive's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Eagers Automotive . Eagers Automotive is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 18%. Basically the business is earning more per dollar of capital invested and in addition to that, 31% more capital is being employed now too. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers. Another thing to note, Eagers Automotive has a high ratio of current liabilities to total assets of 44%. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks. To sum it up, Eagers Automotive has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 199% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue. On a final note, we found 3 warning signs for Eagers Automotive (1 is significant) you should be aware of. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Automotive
- Yahoo
Eagers Automotive's (ASX:APE) Returns On Capital Are Heading Higher
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at Eagers Automotive (ASX:APE) and its trend of ROCE, we really liked what we saw. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Eagers Automotive is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.18 = AU$538m ÷ (AU$5.5b - AU$2.4b) (Based on the trailing twelve months to December 2024). So, Eagers Automotive has an ROCE of 18%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Specialty Retail industry average of 16%. View our latest analysis for Eagers Automotive In the above chart we have measured Eagers Automotive's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Eagers Automotive . Eagers Automotive is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 18%. Basically the business is earning more per dollar of capital invested and in addition to that, 31% more capital is being employed now too. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers. Another thing to note, Eagers Automotive has a high ratio of current liabilities to total assets of 44%. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks. To sum it up, Eagers Automotive has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 199% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue. On a final note, we found 3 warning signs for Eagers Automotive (1 is significant) you should be aware of. If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The Advertiser
26-05-2025
- Automotive
- The Advertiser
BYD drops local importer EVDirect, will distribute vehicles in Australia itself
BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise," Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. "Now is the time to further unlock BYD's immense potential for Australian drivers," said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. "Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever," he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. "As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history," added Mr Todd. "As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia." We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year. Content originally sourced from: BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise," Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. "Now is the time to further unlock BYD's immense potential for Australian drivers," said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. "Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever," he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. "As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history," added Mr Todd. "As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia." We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year. Content originally sourced from: BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise," Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. "Now is the time to further unlock BYD's immense potential for Australian drivers," said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. "Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever," he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. "As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history," added Mr Todd. "As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia." We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year. Content originally sourced from: BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise," Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. "Now is the time to further unlock BYD's immense potential for Australian drivers," said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. "Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever," he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. "As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history," added Mr Todd. "As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia." We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year. Content originally sourced from:
Perth Now
26-05-2025
- Automotive
- Perth Now
BYD drops local importer EVDirect, will distribute vehicles in Australia itself
BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert 'This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise,' Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. 'Now is the time to further unlock BYD's immense potential for Australian drivers,' said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. 'Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever,' he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. 'As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history,' added Mr Todd. Supplied Credit: CarExpert 'As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia.' We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Supplied Credit: CarExpert Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. Supplied Credit: CarExpert The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year.
7NEWS
26-05-2025
- Automotive
- 7NEWS
BYD drops local importer EVDirect, will distribute vehicles in Australia itself
BYD Automotive is taking control of its Australian operations from July 2025, dropping EVDirect as its local distributor. EVDirect will remain involved with the Chinese brand, however, through a minority stake in its retail joint venture with Eagers Automotive Limited, called EVDealer Group. It has a 20 per cent stake in this joint venture, with Eagers holding 80 per cent. EVDirect CEO David Smitherman will serve as CEO of the joint venture. BYD Australia and Eagers have signed a term sheet for a new five-year dealer agreement, with an option for a further five-year term. This term sheet is subject to finalisation of formal documentation between the joint venture and BYD Australia. Not only does this move preserve the current network of retail and service locations, but it also allows Eagers to expand its retail footprint for the BYD brand, provided BYD Australia approves. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. 'This transition is consistent with BYD's continued global reach into key strategic markets and will strengthen the brand's capabilities in Australia by leveraging BYD's global resourcing and expertise,' Eagers Automotive said in a press release. In its own press release, EVDirect said the move comes a year ahead of schedule. 'Now is the time to further unlock BYD's immense potential for Australian drivers,' said Luke Todd, chairman and founder of EVDirect and incoming executive chairman of EVDealer Group. 'Phase One proved the BYD brand would thrive here; Phase Two will make new-energy vehicle ownership easier and more accessible than ever,' he added, with EVDirect noting it intends to offer customers more retail locations, shorter wait times, and enhanced after-sales support. 'As the inaugural importer, EVDirect is extremely proud of the role it has played in the launch of BYD into the Australian market, overseeing what has been one of the most successful new car brand launches in Australian history,' added Mr Todd. 'As a team we are extremely proud of what's been achieved and even more excited by the future as our team reposition into a new role that will help catapult the BYD brand further, right across Australia.' We've contacted BYD Australia for comment. The BYD brand has grown rapidly in Australia, after an uncertain start. BYD e6 vehicles had previously been distributed in limited numbers under Carbridge and Nexport, companies run by Luke Todd. The T3 electric van was also offered here in limited numbers in 2021. But it was the launch of the Atto 3 in 2022 that put BYD on the map with Australian new car buyers, with the small-to-medium electric SUV aimed at the heart of the local EV market. Initially offered only through its website, EVDirect subsequently announced in 2022 plans to sell BYD vehicles through Eagers dealers and have them additionally able to be serviced at Mycar locations. EVDirect and Eagers established a 51:49 joint venture retail partnership, which in 2023 shifted to a 20:80 split. The local distributor has long stated aggressive goals for the Australian market, saying back in 2022 and 2023 it wanted to be a top five brand. Even as recently as this year, Mr Todd said BYD could overtake Toyota as soon as 2027 in Australia. Last year, BYD sold 20,458 vehicles in Australia, including 14,260 electric vehicles (EVs) and 6198 plug-in hybrids (PHEVs), which was enough to make it our market's second best-selling EV brand and the second best-selling PHEV brand. Overall, it was the market's 17th best-selling brand in 2024. The move to in-house distribution will see BYD join other Chinese brands such as MG, GWM/Haval, Chery/Jaecoo and Geely. Chinese brands that use a third-party distributor include LDV (Ateco), Deepal and Foton (Inchcape), and Xpeng (TrueEV). There's also Leapmotor, which leverages Stellantis retail locations through the Leapmotor International joint venture with the European/American giant. BYD will not only be distributing vehicles under its namesake brand, but also under its premium Denza brand, which is due on our shores this year.
