Eagers takes full control of BYD retail venture in cash-and-shares deal
What's the deal? Australia's Eagers AutomotiveDealroom has a profile for this one. Try Dealroom → has agreed to buy the remaining 20% of EV Dealer GroupDealroom has a profile for this one. Try Dealroom →, the operator of its BYD retail joint venture, taking full ownership. The binding, unconditional deal — paid in cash and Eagers shares — was announced on October 26, with completion expected by October 31. Eagers already held 80% after raising its stake in 2023; the undisclosed sum turns the venture into a wholly owned subsidiary.
Why now? Australia's EV market is accelerating. Battery-electric vehicles made up 24.2% of new-car sales in September, more than double their share a year earlier, while BYD's sales rose 61% year on year to 8,191, making it the country's second-best-selling brand that month.
What's the endgame? By scrapping the minority interest, Eagers consolidates control of a fast-growing sales channel. EVDirectDealroom has a profile for this one. Try Dealroom → retains BYD's Australian distribution rights, so the deal gives Eagers full ownership of the retail business — not the brand itself.
By the numbers: Eagers expects the acquisition to lift earnings by 5.0% to 5.5%, based on pro-forma underlying operating profit before tax for the year ended June 30, 2026. Those figures include 12 months of CanadaOneDealroom has a profile for this one. Try Dealroom → earnings and remain unaudited, the company said.
The signal: As EV adoption climbs in Australia, dealers are moving to lock in exposure to the brands driving that growth. For Eagers, full ownership of its BYD retail arm is a bet that the segment's momentum has further to run.
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Image credit: NZ Car Freak
