Eagers Buys Remaining 20% Stake in Australian BYD Retail Venture
Key Facts
Eagers Automotive has agreed to buy the remaining 20% stake in its Australian BYD retail joint venture, EV Dealer Group, making the entity a wholly owned subsidiary once the deal is completed. The transaction had not been completed when the news was published, with completion expected by the end of October 2026. Eagers said the deal is expected to increase its earnings by 5.0% to 5.5%, based on pro forma underlying operating profit before tax. The company will pay for the stake with a mix of cash and shares, while the Reuters report did not specify the deal value. The transaction gives Eagers full ownership of the joint retail entity, according to the company’s announcement.
The deal concerns Eagers’ stake in EV Dealer Group, the entity that operates the retail joint venture, and does not automatically transfer to Eagers the rights to distribute BYD vehicles in Australia. A previous company disclosure distinguished the retail business from the Australian distribution rights, which belong to EVDirect.com. The announced agreement therefore affects only ownership of the retail joint venture, based on the information available about the deal. These limits clarify the scope of the stake Eagers is buying, while the deal details did not mention any change to ownership of the distribution rights. Eagers still needs to complete the purchase of the remaining stake before the entity becomes a wholly owned subsidiary.
Eagers’ relationship with BYD in this business began in 2022, when the two companies entered a joint venture to make Eagers the Chinese electric carmaker’s exclusive national retailer. Eagers then increased its stake in the venture to 80% in 2023, before agreeing to buy the remaining share. In May 2025, the company announced a new agreement with BYD with an initial term of 5 years and an option to extend for a further 5 years. The agreement included retaining the existing Australian retail network, and Eagers said it reflected BYD’s commitment to it as a preferred long-term partner. The company also linked the agreement to its early support for the brand’s launch in Australia.
Eagers materials showed its share of the new energy vehicle market was 21% in fiscal 2024, then rose to 31% in the first quarter of 2025. These figures place its new energy vehicle business within the company’s retail market presence, while its annual results show the scale of its wider operations. Revenue was A$11,193.7 million in fiscal 2024, then reached A$13,045.2 million in 2025, a level the company described as a record. Underlying operating profit before tax rose from A$371.2 million in 2024 to A$424.1 million in 2025. According to Reuters, the deal’s expected earnings increase is based on pro forma underlying operating profit before tax.
Eagers shares reacted quickly to the announcement, rising 7% to A$20.05 after the deal, according to a Reuters report published on 25 October 2026. The move followed the announcement that Eagers would buy the remaining stake in the venture, with the company expecting earnings to increase by 5.0% to 5.5%. The deal remains subject to completion, expected by the end of October 2026, when EV Dealer Group would become a wholly owned subsidiary. For investors, the next step is completion of the agreement, followed by the reported effect on earnings. In the Australian calendar, the Australian Bureau of Statistics scheduled the release of the September 2026 consumer price index for 28 October 2026.