New Energy Vehicles (NEVs) in China

tphuang

tphuang

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Lethe said:
The expiry of the fringe benefits tax exemption for PHEVs had an effect to be sure, but Shark 6 has continued to sell consistently >1000 vehicles each month. Here is a quick chart I put together showing BYD sales across 2025 to date, with the two PHEVs at the bottom for easier comparison:

View attachment 160194

The June 2025 sales figures are a clear outlier. I have encountered the suggestion that, in the course of the distribution handover from EVDirect to local BYD subsidiary, all BYD vehicles then possessed by EVDirect were registered to BYD Australia and showed up on VFACTS as such. But there was no dramatic collapse in July or August sales that would be expected if the June sales were otherwise being fudged to juice up EOFY reports.



Ute sales in Australia YTD, by brand:

#1 Toyota 43,421
#2 Ford 37,731
#3 Isuzu 18,730
#4 BYD 12,918
#5 Mitsubishi 12,292
#6 Mazda 10,115
#7 GWM 8050
#8 Nissan 5695
#9 Volkswagen 3928
#10 LDV 3388
#11 RAM 2236
#12 Chevrolet 2409
#13 Kia 1693
#14 KGM Ssanyong 1446
#15 JAC 1146
#16 Jeep 257

Notably, excluding the brands starting from zero (BYD, Kia, JAC), only GWM has recorded significant growth in ute sales YoY (+36%). That Shark 6 is neck-and-neck with Mitsubishi Triton despite that being an all-new (and reportedly very solid) vehicle from an established and respected brand is very impressive, IMO.

Note that deliveries of Kia's Tasman ute commenced less than two months ago, so the YTD figures are not a fair reflection of that vehicle. In relation to Chevrolet and RAM, the cost of local RHD conversions of the "full-size" utes offered by those companies (and also Ford and Toyota), and the corresponding decision to import only upper trim levels of those vehicles, effectively puts them in a different pricing bracket where they cannot expect to compete on volume with HiLux, Ranger, etc. For example, using Ford Australia website pricing, the cheapest Ranger is $49k with range-topping Platinum at $87k, whereas the cheapest F150 is $116k (Shark 6 is $59k). The American full-size utes are really competing more with Toyota LandCruiser 300 (7700 sold YTD, from $105k) than with Toyota HiLux.
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this is a really good stuff. I shared your chart on my twitter account, mentioning it's from you, obviously.

Looks like they've settled in at around 5000 a month. With B5 and B8 coming later this year. BYD can have an even larger share of the off road market, which generally should be pretty popular in a country like Australia.
 
Lethe

Lethe

Captain
tphuang said:
this is a really good stuff. I shared your chart on my twitter account, mentioning it's from you, obviously.

Looks like they've settled in at around 5000 a month. With B5 and B8 coming later this year. BYD can have an even larger share of the off road market, which generally should be pretty popular in a country like Australia.
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Thanks; here are the monthly sales over time:

BYD Monthly Vehicle Sales in Australia.png

Timeline for the introduction of models:

Atto 3: brand launch model, from November 2022
Dolphin: from October 2023
Seal: from December 2023
Sealion 6: from June 2024
Shark 6: from Jan 2025
Sealion 6: from Feb 2025

Once the September figures come out, I can do a chart showing the model breakdown on a quarterly basis through Q3 '25.

I'm sure the Denza/FCB/Leopard models will do well enough on the balance sheet, but volume is likely to be a slower burn. From memory I think GWM Tank 300 is doing around 400 units per month and Tank 500 about half that.
 
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