In the evolving landscape of electric vehicles, BYD stands out as a prominent figure among emerging Chinese manufacturers. Since its UK debut last year, BYD has significantly enhanced its presence through targeted marketing and strategic engagement at fleet events.
The company’s growth trajectory has been notable. In 2023, BYD registered 1,158 vehicles, with 657 falling under the true fleet category, marking a modest 0.06% market share. However, this year has seen a dramatic increase, with registrations soaring to 2,904 in the first half alone, elevating its market share to 0.3%. This growth reflects an expanding interest in the brand.
True fleet channels have proven to be a substantial avenue for BYD, with 988 vehicles registered—a 50% increase from the previous year. Motability has also shown impressive growth, with 923 vehicles, representing a 243% rise. This early success underscores the potential for BYD to establish a stronger foothold in the UK market.
The company’s achievements have not gone unnoticed. At the recent Fleet News Awards, BYD was honored with the Electric Car Breakthrough of the Year: Marque award. Malcolm Fryer, BYD’s Head of European Remarketing and UK Fleet Sales, highlights the company’s ambitious goals. “We may be in start-up mode in the UK, but we’re not a start-up,” Fryer states. “We’re clear market leaders in China and the Chinese market is pretty much EU plus UK plus USA, less about 1-1.5 million units.”
Fryer elaborates on BYD’s strategic objectives, expressing a commitment to capturing 5% of the UK EV market and aspiring to lead in both the electric and total vehicle markets. The company’s vision is to become a dominant force in the industry, a goal supported by various initiatives aimed at increasing brand awareness and expanding its dealer network.
A critical component of BYD’s strategy involves strengthening its dealer network. Initially launching with four dealers, BYD’s network has grown to approximately 40 and is on track to reach nearly 60. Fryer notes that dealer confidence has been essential. “We know that some of the fleets held back on us because they were nervous about our capability to look after the cars once they’ve gone out into the market,” he explains. “We’re now getting to the point where we are providing that additional aftersales support and giving confidence in our network coverage to the larger fleets.”
BYD’s approach includes carefully selecting dealer partners to ensure broad geographical coverage and specialised fleet expertise. Notable dealers such as CWC in Exeter, Lookers in Sheffield and Middlesborough, and Charles Hurst in Northern Ireland are key players in the fleet sector. New additions like Pendragon and Vertu further strengthen the network.
The expansion of BYD’s fleet team is also a significant development. Fryer’s team includes three fleet sales managers specialising in different sectors: Jeannette Griggs handles public sector and special vehicle sales from Newcastle; Marc Samuel focuses on private hire and daily rental suppliers from the Midlands; and Claudio De Freitas oversees leasing companies in London. This specialised approach aims to align BYD’s offerings with the needs of diverse fleet channels.
Increased brand awareness has been a focus, with BYD’s visibility rising from 3% to 17%, bolstered by high-profile sponsorships and partnerships, including with ITV’s Saturday Night Takeaway and Euro 2024. These initiatives have driven a noticeable increase in consumer interest and inquiries.
BYD’s product range is set to expand with the introduction of the Seal U DM-i plug-in hybrid in September. This model, known as the Song in China, is anticipated to be a strong competitor in the D-segment SUV sector, challenging models like the Ford Kuga and Kia Sportage. Fryer highlights the vehicle’s potential impact, noting its appeal to those hesitant to fully transition to BEVs due to its 8% BIK rate, offering significant savings compared to traditional petrol or diesel vehicles.
With the UK electric vehicle market currently at 16-17% uptake, BYD’s new offerings aim to address the preferences of the remaining majority, adding a valuable dimension to its product lineup. This strategic expansion underscores BYD’s commitment to becoming a leading player in the UK automotive market.
In summary, BYD’s focused efforts in fleet expansion, dealer network growth, and increased brand visibility illustrate a clear trajectory towards becoming a major player in the UK’s electric vehicle sector. The company’s strategic moves and ambitious goals position it well for continued success in the evolving automotive landscape.