Chinese automaker BYD is making a significant move with the introduction of its hybrid Shark 6 utility vehicle in Australia. David Smitherman, CEO of EVDirect—the importer for BYD in Australia—shared insights about the company’s strategy in the local market.
“We’re not just here for a holiday; we aim to aggressively increase our market share. We recognize that this segment is quite substantial,” Smitherman stated.
Smitherman discussed BYD’s brand recognition efforts in Australia and the company’s objectives in this market.
“I’m deeply passionate about the branding of this vehicle. You’ll see BYD prominently featured, as it’s crucial for our future brand recognition—these vehicles serve as mobile advertisements,” he explained.
Australians tend to be loyal to specific brands in the utility vehicle segment. While we understand that we’re newcomers in Australia, we have been in the industry for 30 years, so we are not new on the global stage,” Smitherman remarked.
BYD is also encountering similar hurdles in Europe. As a relatively recent entrant to the European market, BYD is making significant investments to enhance its brand presence. Earlier this year, BYD became the e-mobility partner for the Union of European Football Association’s (UEFA) European Football Championship 2024 (EURO 2024) as part of its branding strategy.
BYD plans to increase its market share in Australia, beginning with the launch of the hybrid Shark 6 pickup truck. While the company has not yet disclosed pricing details for the Shark 6 in Australia, it is anticipated that BYD will competitively price the vehicle at less than AUD$60,000, making it more affordable than mid-range 4×4 models from competitors such as Ford, Toyota, and Isuzu, according to a report by Drive.
“BYD benefits from both vertical and horizontal integration, with over 70% of the components produced by BYD itself, providing us with significant cost advantages,” Smitherman noted.
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