Australia's 2026 EV Sales Numbers Are In — Here's What They Mean for Your Novated Lease
June 2026 EV sales data is out. We break down what Australia's electric vehicle market growth means for novated lease customers choosing their next car.
Australia's electric vehicle market is moving fast. The latest monthly sales data published by The Driven — tracking every EV sold in Australia in 2026 by model and brand — shows the market continuing to expand, with more makes and price points entering the mix than ever before.
For PAYG employees considering a novated lease, a busier EV market is directly relevant. More competition between brands tends to mean more models qualify for the FBT exemption on eligible EVs, and more choice usually means a better chance of finding something that fits your salary and lifestyle.
What this means for novated lease customers
The federal government's FBT exemption for eligible battery electric and plug-in hybrid vehicles remains one of the most significant tax concessions available to Australian employees right now. Because the exemption removes fringe benefits tax from the equation entirely for qualifying vehicles, the pre-tax nature of a novated lease becomes substantially more valuable on an EV than on a comparable petrol car.
According to the sales breakdown reported by The Driven [Source 1], a growing range of models are landing in Australian showrooms across 2026 — which means more options are likely to sit under the luxury car tax threshold that caps FBT-exempt eligibility. If you've been waiting for the right EV to appear at the right price, 2026's supply picture is the most favourable it's been.
The catch? Not every EV on the sales chart automatically qualifies. The vehicle must be a new car, must fall below the relevant LCT threshold for fuel-efficient vehicles, and must be taken on a novated lease through your employer. Getting those three things right is where people trip up. millarX works through that checklist with you before anything is signed.
Common questions
Does every EV in the 2026 sales data qualify for the FBT exemption?
No. To qualify, the vehicle must be a new eligible battery electric or plug-in hybrid vehicle and must fall below the ATO's fuel-efficient luxury car tax threshold for the relevant financial year. Some popular models exceed that threshold and are therefore not exempt.
Does a more competitive EV market affect the cost of a novated lease?
More models in market generally increases supply and can put downward pressure on pricing, which can improve the economics of a novated lease. It also gives you more options to find a vehicle that sits comfortably within FBT-exempt price limits.
Can I novated lease a second-hand EV and still get the FBT exemption?
The FBT exemption for EVs currently applies to new vehicles. Used EVs are generally not covered by the exemption, though legislation in this area has been debated. Check current ATO guidance or speak to millarX for the up-to-date position.
How do I know which models in the 2026 sales data are novated-lease-friendly?
The key filters are: eligible vehicle type (BEV or qualifying PHEV), purchase price below the LCT fuel-efficient threshold, and availability through your employer's novated lease arrangement. millarX can run through this with you for any specific model.
Is now a good time to lock in an EV on a novated lease?
The FBT exemption is legislated but not guaranteed forever — policy can change. If you're eligible and have found a vehicle that qualifies, waiting carries its own risk. That said, we don't pressure anyone — the numbers need to work for your situation specifically.