Why BYD is a nightmare for Toyota, Tesla, Hyundai and Ford as the BYD Shark plug-in hybrid ute and BYD Seal electric car spearhead its sales growth | Opinion

“China has yet to create a single international marquee of its own that is universally recognised and respected. It is time for Chinese carmakers to upend the order of the global automotive industry and chart a course into a new vast territory.”

Those words belong to BYD (Build Your Dreams) founder and chairman, Wang Chuanfu, who was speaking at a celebration of his brand’s five millionth EV production car in August 2023. So why is that news in July, 2024? Because less than a year after he made those comments, BYD is rapidly emerging as China’s first globally recognised car brand.

Sales are up more than 54 per cent in the first half of 2024, spurred on by the introduction of the Seal electric sedan and the new Sealion 6 plug-in hybrid. And this is just the beginning, with local BYD head, Luke Todd, already confirming that Shark PHEV (or DM-i in BYD-speak, standing for (Dual Motor Intelligence’) will be in showrooms before the end of this year.

There’s more to come too, with a Seal DM-i, that boasts a driving range of 2100km; the Toyota LandCruiser Prado rivaling Fang Cheng Bao 5 and the just-launched, Sealion-replacing Song L all possible candidates for future Australian release.

When, or even if, these new models arrive in Australia is still unanswered, so why should the car industry be worried about a brand that’s still well outside the top 10 in total sales? Because BYD’s decision to focus on what it calls “new energy vehicles” rather than restricting itself purely to electric-only models is in line with market trends.

Internal combustion engines may still be the dominant force, but looking at the mid-year sales reports makes for some interesting reading. Electric vehicles are up 16.5 per cent but hybrids are up 113.3 per cent and PHEVs are up 129.6 per cent, so BYD has the growing segments covered.

Diving deeper, in just its first month on sale the Sealion 6 managed to out-sell several far-more established rivals in its mid-size SUV segment, including the Atto 3, Honda ZR-V, MG HS, Peugeot 3008 and Renault Koleos. If it continues on that trajectory it could become one of the best-sellers in that segment by the end of 2025.

As for the all-electric Seal, it is the third best-selling mid-size sedan in Australia (across both the mainstream and premium markets) behind only the Toyota Camry and Tesla Model 3, ahead of the Mazda6, BMW 3-Series and Mercedes-Benz C-Class.

At the same time BYD is enjoying this success in Australia it is expanding its reach in Europe, so it seems Wang Chuanfu may have his dreams of a global Chinese automotive powerhouse come true sooner than he thought.