Chery Stockman PHEV Ute: What It Means for Your Novated Lease
The Chery Stockman plug-in hybrid diesel ute is coming for the BYD Shark 6 and Ford Ranger PHEV. Here's what Australian salary packagers need to know.
The PHEV ute segment just got a lot more crowded. Chinese manufacturer Chery has named its first Australian-market ute the Stockman — a plug-in hybrid diesel designed to go head-to-head with the BYD Shark 6 and the Ford Ranger PHEV. According to EVcentral AU [Source 1], the name came out of a public competition, which at least suggests Chery is taking the local market seriously rather than slapping on a generic badge and calling it done.
For PAYG employees considering a novated lease, more competition in the PHEV ute space is genuinely good news. It means more choice, likely more competitive pricing, and — critically — more vehicles that could qualify for significant FBT treatment depending on how they're classified and used.
What this means for novated lease customers
The key question for novated lease purposes isn't what the ute is called — it's how it's classified under Australian tax rules. Plug-in hybrid electric vehicles (PHEVs) occupy a different position to pure battery EVs under the current FBT exemption framework. The full FBT exemption introduced for eligible EVs does not automatically extend to PHEVs in all circumstances, so the Stockman's specific eligibility will depend on ATO guidance and its final list price at the time of delivery.
What the Stockman does represent is a potentially more affordable entry point into the PHEV ute category compared to the Ranger PHEV, which carries a premium price tag. If Chery prices aggressively — which Chinese manufacturers have consistently done in Australia — it could open up the work-ute-plus-salary-packaging conversation to a broader group of employees. Tradies, site managers, and anyone who genuinely needs a ute and wants to reduce their tax burden should watch this one closely.
As always, the numbers depend on your income, employer setup, and the final drive-away price. Potential savings are real but vary significantly — which is exactly why it's worth running a proper comparison before you commit to any vehicle.
Common questions
Is the Chery Stockman available on a novated lease right now?
Not yet. As of mid-2026 the Stockman has been named but not officially launched or priced in Australia. Novated leases are written on available vehicles with confirmed pricing — watch this space and we'll update when it's on the road.
Will the Chery Stockman qualify for the EV FBT exemption?
This depends on its final classification and list price under ATO rules. PHEVs have a more complex treatment than pure EVs under current legislation, and eligibility thresholds apply. We'd recommend not assuming exemption until the vehicle is listed and we can confirm against ATO guidance.
How does the Stockman compare to the BYD Shark 6 or Ford Ranger PHEV for novated leasing?
All three are PHEV utes targeting the same buyer, but pricing, residual values, and lender appetite will differ. The Ranger carries strong residuals due to brand recognition; the BYD Shark is newer so residuals are still establishing. The Stockman is an unknown quantity until it hits the market.
Can I use a PHEV ute as my primary novated lease vehicle if I need it for work?
Yes, subject to your employer's novated lease policy and normal FBT rules around business versus private use. A ute used genuinely for work can still be packaged effectively — speak to us about your specific situation.
What should I do now if I'm interested?
Register your interest with millarX. We'll track the Stockman's launch, pricing, and FBT eligibility and contact you as soon as we can run real numbers on it.