Chery Stockman PHEV Ute: What It Means for Novated Leasing
Chery's Stockman plug-in hybrid diesel ute is coming for the BYD Shark 6 and Ford Ranger PHEV. Here's what Australian employees need to know about novated leasing it.
A new name just entered the Australian ute conversation: the Chery Stockman. According to EVcentral AU, Chinese manufacturer Chery has revealed its first ute for the local market — a plug-in hybrid diesel (PHEV) built to take on the BYD Shark 6 and Ford Ranger PHEV. The name came out of a public competition, which tells you something about how seriously Chery is courting Australian buyers.
This isn't just another EV story. A diesel plug-in hybrid ute is a genuinely different proposition — potentially combining real towing and range credentials with meaningful electric-only driving. For PAYG employees thinking about a novated lease, the powertrain choice matters a lot, and here's why.
What this means for novated lease customers
Right now, the FBT exemption for eligible EVs applies to battery-electric vehicles and plug-in hybrid EVs — but only until 1 April 2025 for new PHEVs entering novated leases (PHEVs that were already under a qualifying arrangement before that date retain their exemption for the life of that lease). So the Stockman's PHEV status means it will not automatically qualify for the full FBT exemption that a pure battery-electric vehicle would attract for new arrangements entered into today. That's a material difference in after-tax cost and something any broker who's straight with you will flag upfront.
That said, a PHEV ute can still be salary packaged through a novated lease in the ordinary way — you still get pre-tax payments covering the car, fuel, registration, insurance and servicing, which is a meaningful tax advantage for most PAYG employees. The Stockman's headline efficiency figures (not yet confirmed for Australia) could also affect running costs, which flow directly into the lease budget. Once pricing and specs land locally, it's worth running the numbers against the Ranger PHEV and Shark 6 side by side before you commit.
Common questions
Will the Chery Stockman qualify for the FBT EV exemption?
Based on current legislation, plug-in hybrid EVs entering new novated lease arrangements after 1 April 2025 are no longer eligible for the FBT exemption. Unless the law changes before the Stockman reaches Australian dealerships, it is likely to be treated as a standard novated lease vehicle for FBT purposes. Confirm this with your broker once the vehicle launches locally.
Can I still novated lease the Chery Stockman?
Yes. Not qualifying for the FBT exemption doesn't stop you from novated leasing the vehicle — it just means the tax treatment is different from a pure BEV. You still benefit from pre-tax salary packaging of vehicle costs, which reduces your taxable income.
How does the Stockman compare to the BYD Shark 6 and Ford Ranger PHEV for novated leasing?
All three are PHEVs, so they sit in the same FBT category for new arrangements entered today. The main variables will be vehicle price, residual value, fuel/charging costs and dealer support — all of which feed into your overall lease cost. Pricing for the Stockman hasn't been confirmed for Australia yet.
When will the Chery Stockman be available in Australia?
No official on-sale date has been announced as of the time of writing. The naming reveal is an early sign that an Australian launch is being prepared, but timing and final specifications are still to be confirmed.
Is a diesel plug-in hybrid ute a good choice for novated leasing?
It depends on your driving patterns. PHEVs can work well if you do a mix of short daily trips on electric power and longer regional runs. For a novated lease, the key is whether the real-world running costs and vehicle price stack up — not just the headline powertrain story.