Eagers Automotive to take full ownership of Australian BYD retail venture

Key takeaways

• Eagers will own 100% of EV Dealer Group, its BYD retail joint venture
• Deal is binding and expected to complete by 31 October 2026
• BYD Australia still handles distribution, and no dealer changes were announced

Eagers Automotive has agreed to buy the remaining 20% of EV Dealer Group, the joint venture that retails BYD vehicles across Australia. The deal is binding and unconditional, and Eagers told the ASX on Monday that it expects to complete it by 31 October 2026.

EV Dealer Group will become a wholly owned Eagers subsidiary. Eagers will pay in a mix of cash and ordinary shares. AutoTalk reports the share component is 1,126,779 shares worth about $21.1 million, while the cash amount and total price have not been disclosed.

What the Eagers and BYD deal changes

Eagers expects the purchase to be 5.0% to 5.5% earnings accretive for its shareholders. That figure is based on pro forma underlying operating profit before tax for the 12 months to 30 June 2026.

The remaining 20% was held by EVDirect, BYD’s original Australian importer. Eagers formed the joint venture with EVDirect after BYD’s 2022 Australian launch and lifted its stake from 49% to 80% in July 2023.

The deal covers retail only. BYD Australia has run national distribution since July 2025, when EVDirect handed it over and moved to focus on retail through EV Dealer Group. The ASX announcement does not mention any changes to BYD dealerships, pricing or the model range.

The timing comes as BYD’s Australian sales keep climbing. It was the country’s second-best-selling brand in September with 8191 sales, up 61.1% on a year earlier, according to VFACTS figures reported by AutoTalk. BYD also passed 150,000 Australian deliveries last week.

Eagers expects the transaction to complete by 31 October. It has not said how much cash it is paying for the final 20%.