BYD Faces Pressure to Increase Shark 6 Price in Australia
BYD Australia is resisting pressure from its head office to raise the price of the highly anticipated 2025 BYD Shark 6 plug-in hybrid ute. With 5500 orders secured before a single delivery, the Shark 6 has quickly become one of the most in-demand utes on the market.
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Find me a dealWhy BYD Is Holding Off a Price Increase
When the BYD Shark 6 launched last year, it shocked the market with its $57,900 price tag, matching mid-range diesel utes like the Ford Ranger and Toyota HiLux. This aggressive pricing undercut initial expectations of $68,000, a figure previously leaked via a government database.
David Smitherman, CEO of BYD’s Australian distributor EVDirect, acknowledged that headquarters is pushing for a price increase due to overwhelming demand.
“I think we're under pressure to put the price up, that's for sure,” Smitherman said. “But at this point, we're trying to hold that, and that's not easy—it does put pressure on the business, absolutely.”
Despite the pressure, BYD Australia is maintaining the current pricing to maximize sales before the end of the financial year, a historically strong period for ute purchases.
Fringe Benefits Tax (FBT) Exemption Ending Soon
Adding to the urgency for buyers, the lucrative Fringe Benefits Tax (FBT) exemption on plug-in hybrid vehicles (PHEVs) is set to end on March 31, 2025. This tax break has been a significant driver of PHEV sales, allowing novated lease customers to save up to 50% on their vehicle purchase.
Social media forums are filled with posts from Shark 6 customers expressing concern that without the FBT exemption, the ute could become unaffordable.
“We're working really hard to meet that demand because it's exceptionally high,” Smitherman explained. “I’d expect there’d be some slowdown after March 31, but we’re focused on building awareness for the Shark 6—it’s better than that.”
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Find me a dealPort Delays and ANCAP Rating Impact
Complicating matters, recent port delays in early 2025 have created a backlog in vehicle arrivals, leaving some customers worried about missing the FBT deadline. The delay stems from ships being unable to return to home ports on schedule, disrupting deliveries across multiple brands.
Smitherman estimates that around 30% of Shark 6 buyers are using a novated lease, though he admits exact figures are unclear. He remains optimistic, pointing to an upcoming five-star ANCAP safety rating as a key selling point that could sustain interest beyond the FBT deadline.
What’s Next for the BYD Shark 6?
As the March 31 deadline looms, BYD is ramping up efforts to meet demand while resisting price hikes. Whether or not the Shark 6 remains at its current price post-tax-exemption remains uncertain. One thing is clear: the combination of affordability, hybrid efficiency, and market-leading features has positioned the Shark 6 as a serious disruptor in Australia’s ute market.
With interest soaring, the Shark 6 could redefine expectations for plug-in hybrid utes, challenging not just traditional diesel powerhouses like the Ford Ranger and Toyota HiLux, but also up-and-coming models like the Hyundai Santa Cruz.
Will the Price Hold?
As BYD navigates these challenges, potential buyers should act fast to lock in their Shark 6 at the current price. Will BYD maintain its aggressive pricing strategy, or will demand force an increase? Time will tell, but for now, the Shark 6 remains the most affordable plug-in hybrid ute on the market.
Dylan Anderson
Dylan Anderson
