BYD, the Australian importer of the Chinese-based electric vehicle (EV) maker, has seen a surge in interest for their sub-$30,000 electric hatchback, the Dolphin. The company recently introduced a budget-friendly Essential model, which is now the cheapest new electric car on the market. According to Luke Todd, the chairman and managing director of EVDirect, the response has been “overwhelming” with a huge increase in enquiry.
The Essential model is fully equipped and offers excellent value, undercutting major name hatchbacks such as the Toyota Corolla and Mazda3. BYD is confident that the Dolphin will be one of their top sellers, with 2025 forecast to be the “defining year” for the brand.
Since launching their passenger cars in Australia in 2022, BYD has seen a loyal following and impressive sales growth, with a goal of doubling their sales to 100% in 2025. The company plans to achieve this by introducing more models and increasing their dealership footprint, including expanding their presence in regional areas.
The electric hatchback segment is expected to continue its surge, with BYD’s aggressive pricing strategy allowing them to capitalise on this trend. Sales of small electric cars almost doubled in 2024, with EVs making up 60% of small car sales growth. The $29,990 starting price of the Dolphin, plus on-road costs, is not a limited-time offer and is expected to remain the standard price for this model.
By increasing their footprint and expanding their regional presence, BYD is poised to benefit from the growth in the EV market and compete more effectively against established brands in the small car segment. The company’s efforts are expected to pay off in 2025, with projections of significant growth and increased brand visibility.