Chery Stockman PHEV Ute — What It Means for Your Novated Lease
Chery's Stockman diesel-electric ute is coming to Australia. Here's what PAYG employees need to know about novated leasing a PHEV ute. Read the plain-English breakdown.
A new contender just entered the ute wars — and it matters if you're thinking about a novated lease.
Chery has confirmed detailed specifications for its upcoming Stockman dual-cab ute: a diesel plug-in hybrid (PHEV) pushing 350kW and 800Nm, with a claimed 3.5-tonne towing capacity. According to the EVcentral report [Source 1], it's squarely aimed at the BYD Shark 6, GWM Cannon Alpha, JAC Hunter, and even the Ford Ranger. That's a serious spec sheet for a ute that hasn't reached Australian showrooms yet.
For context: the Australian ute market is the most competitive it's been in years, and Chinese-brand PHEVs are forcing the whole segment to justify its pricing. Whether Chery can back up the numbers with real-world reliability is a separate question — but the specification reveal alone is worth paying attention to if you're planning a novated lease in the next 12–24 months.
What this means for novated lease customers
Here's where it gets interesting from a salary packaging perspective.
The Stockman is a diesel PHEV, not a fully battery-electric vehicle (BEV). That distinction matters for tax purposes. Under current ATO rules, the FBT exemption for novated leases applies to zero or low-emissions vehicles — which includes battery electric, hydrogen fuel cell, and certain plug-in hybrids, provided they meet the fuel efficiency threshold set by the legislation. Whether the Chery Stockman qualifies will depend on its final Australian-spec fuel consumption figures and the ATO's assessment at the time of delivery. Until Chery Australia confirms those numbers and the ATO provides clarity, do not assume FBT-exempt treatment.
What is clear: even outside the FBT exemption, a novated lease on a PHEV ute can still deliver meaningful pre-tax savings on running costs, depending on your income and employer setup. The competition heating up in this segment also suggests pricing pressure, which could work in your favour when the Stockman hits the market. If you're comparing it against the BYD Shark 6 or GWM Cannon Alpha — both already available or incoming — it's worth running the numbers on each before committing.
Common questions
Is the Chery Stockman FBT-exempt under a novated lease?
Not confirmed yet. The Stockman is a diesel PHEV, and FBT exemption for PHEVs depends on meeting the ATO's fuel efficiency threshold. Final Australian specs haven't been released, so FBT-exempt status can't be assumed at this stage. Check back once Chery Australia confirms official figures.
How does a novated lease on a PHEV ute work?
Your employer deducts lease payments from your pre-tax salary, reducing your taxable income. Running costs like fuel, registration, and servicing can also be bundled in. If the vehicle qualifies for the FBT exemption, the benefit is even greater — but even non-exempt vehicles can deliver tax advantages depending on your situation.
How does the Chery Stockman compare to the BYD Shark 6 for novated leasing?
Both are PHEV utes targeting a similar buyer, but the tax treatment will hinge on their respective fuel efficiency ratings and ATO classification. The BYD Shark 6 is further along in terms of confirmed Australian availability, which means its novated lease eligibility is easier to assess right now.
When is the Chery Stockman available in Australia?
Chery has revealed specifications but hasn't confirmed a firm Australian on-sale date as of this writing. Keep an eye on official Chery Australia announcements before placing any orders or signing a novated lease agreement.
Can I novate a ute I use for work?
Yes — utes are eligible for novated leasing, and work-related use can affect the FBT calculation in your favour. Talk to a specialist about your specific usage mix before assuming any particular tax outcome.