BYD cuts prices on its best-selling Atto 3 electric SUV in Australia to rival Tesla
- by Electrek
- Jun 14, 2024
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A new price war is fueling EV sales in Australia as the competition heats up to gain overseas market share. BYD launched its new Atto 3 electric SUV in Australia with several updates, including lower prices, as it looks to chip away at Tesla’s lead.
Chasing Tesla’s lead
Last month, electric vehicle sales in Australia were boosted by price cuts from leaders like Tesla and BYD.
According to the latest data from the Federal Chamber of Automotive Industries (FCAI), 8,974 fully electric vehicles were sold in Australia last month. That number is up from the 6,194 EVs sold in April 2024 and 8,124 handed over last May.
The growth was enough for EVs to capture 8.1% of all vehicles sold in Australia last month, up from 7.7% in May 2023.
Tesla still leads with Model 3 sales reaching 1,958, surpassing its best-selling Model Y (1,609). Tesla has now sold 8,823 Model 3s and 9,610 Model Ys in Australia year-to-date.
Although Tesla has maintained a market share of over 60%, BYD is chipping away at its lead.
With 3,567 EVs sold in May, Tesla held a 40% share. BYD’s new Seal was the third best-selling EV last month, with 1,002 units sold, while the Atto 3 was fourth with 737. The growth bumped up BYD’s market share to 18%.
BYD SEAL (Source: BYD)
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