Chery Stockman PHEV Ute — What It Means for Your Novated Lease
Chery's Stockman diesel-PHEV ute arrives with 350kW and 3.5t towing. Here's what Australian salary packagers need to know before it lands. Read more.
A new contender just entered the dual-cab ute conversation. According to EVcentral AU [Source 1], Chery has confirmed the Stockman will arrive in Australia as a diesel plug-in hybrid (PHEV) packing 350kW, 800Nm of torque and a 3.5-tonne towing rating. That puts it squarely in the sights of the BYD Shark 6, GWM Cannon Alpha, JAC Hunter — and yes, even the Ford Ranger.
For most buyers, the spec sheet is the headline. For anyone on a salary package, the powertrain type matters just as much as the horsepower figure.
What this means for novated lease customers
Here's the thing worth understanding: not all electrified utes are equal under Australia's FBT rules. Battery-electric vehicles (BEVs) currently attract the full FBT exemption introduced in 2022, meaning eligible employees pay zero fringe benefits tax on a novated lease. Plug-in hybrids — including diesel-PHEVs like the Stockman — are treated differently. PHEVs were grandfathered into a transitional exemption, but that exemption only applies to vehicles ordered before 1 April 2025 and first held before 1 April 2026. New PHEV orders after those dates are not exempt from FBT.
What that means practically: if the Chery Stockman lands as a diesel-PHEV after those cut-off dates, it will most likely attract standard FBT treatment rather than the exemption. That doesn't make it a bad novated lease candidate — the pre-tax packaging benefits still apply and the total cost of ownership equation is worth running — but you shouldn't assume it gets the same tax treatment as a BEV. The FBT rules here are set by the ATO and the Treasury legislation; millarX will confirm the exact classification once the vehicle is formally on sale and the ATO's position is clear.
The bottom line: if you're weighing up the Stockman against a fully electric ute or wagon, factor FBT treatment into the comparison, not just the driveaway price and tow rating. Potential savings on a novated lease can still be meaningful on a PHEV — the numbers just look different to a BEV deal.
Common questions
Is the Chery Stockman eligible for the FBT exemption?
Based on current ATO rules, new PHEV orders placed after 1 April 2025 are not eligible for the electric vehicle FBT exemption. The Stockman is a diesel-PHEV, so it would likely fall outside the exemption. We'll confirm once the vehicle launches and the ATO's position is on the record.
Can I still novated lease the Chery Stockman?
Yes. Any car can be novated leased — the FBT exemption is a bonus on top, not a prerequisite. A PHEV ute without the exemption still benefits from pre-tax packaging of running costs, which can meaningfully reduce your overall outlay.
How does the Stockman compare to the BYD Shark 6 for salary packaging?
The BYD Shark 6 is also a PHEV, so it faces the same FBT exemption cut-off issue. A fully electric ute — if one suits your work and towing needs — would currently attract better FBT treatment. The right answer depends on your actual usage, not just the tax position.
When is the Chery Stockman available in Australia?
Chery has confirmed specifications but launch timing is not yet finalised. Check back as the vehicle approaches its Australian release — FBT treatment and novated lease eligibility will be clearer once pricing and delivery dates are locked in.
Should I wait for the Stockman or buy a different ute now?
That depends on your situation. If you're close to a leasing decision, it's worth talking through the options now rather than waiting — tax rules, vehicle availability and your own circumstances all affect the outcome.