BYD cuts prices on its best-selling Atto 3 electric SUV in Australia to rival Tesla

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 launches new Atto 3 with lower prices in Australia

The Atto 3 is still BYD’s best-selling EV in 2024, with 3,366 models sold, while the Seal is a close second at 3,306.

BYD believes 2024 will be a pivotal year as it rolls out new models and aims to take leadership in Australia’s EV market.

Following the new Seal, BYD launched a “major upgrade” for the Atto 3 Friday. BYD’s new Atto 3 features a 15.6″ screen (up from 12.8″). In addition to new features like added camping mode and karaoke, the new Atto 3 features lower prices.

The standard range Atto 3 now starts at AUD 44,449, while the Extended Range costs AUD 47,449 (before on-road costs). BYD’s new Atto 3 prices are down AUD 3,562 and the cheapest they have been so far, according to Australia’s Drive.

Powered by a 50 kWh battery and 150 kW electric motor, the new standard Atto 3 features up to 214 miles (345 km) WLTP range. The Long-Range model, with a 60 kWh battery, can travel up to 261 miles (420 km).

Meanwhile, Tesla’s RWD Model Y starts at AUD 55,900, with up to 283 miles (455 km) WLTP range. The Long-Range AWD model starts at AUD 69,900 with up to 331 miles (533 km) WLTP range.

Which one are you buying? The new BYD Atto 3? Or the Tesla Model Y? Let us know in the comments below.

Source: Drive, BYD