Australia’s largest car dealership group Eagers Automotive has avoided the large crash in profits of smaller rivals stocked with slow-selling full battery electric vehicles, with the company benefiting from robust sales of cheaper BYD hybrids.

Eagers, where billionaire Nick Politis has a 28 per cent stake, has a retail joint venture with BYD in Australia with 50 outlets and is making strong profits as buyers opt for hybrid models, not full EVs such as Tesla. In January, Tesla sales in Australia slumped by a third compared with January 2024.

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