Mazda Slashes CX-60 & CX-80 PHEV Prices — What It Means for Your Novated Lease
Mazda cut CX-60 and CX-80 PHEV prices by up to $8,119. Here's what that means if you're considering one on a novated lease. Plain-English breakdown.
Mazda has made a significant move in the Australian PHEV market, cutting the drive-away prices of its CX-60 and CX-80 plug-in hybrid SUVs by up to $8,119, according to a report by EVcentral AU (Source 1). That's not a rounding error — for two models that were already drawing serious interest from salary-packaging employees, this is a material shift.
The timing matters. The PHEV segment has been growing steadily in Australia as buyers look for the range confidence of a petrol engine combined with some electric driving. The CX-60 and CX-80 sit in the mid-to-large SUV space — exactly where a lot of novated lease customers are shopping.
What this means for novated lease customers
A lower drive-away price flows directly into your novated lease structure. The vehicle's capitalised cost is a primary input in any lease calculation, so a reduction of this size can meaningfully reduce your fortnightly lease payments — all else being equal.
It's also worth being clear about where PHEVs sit under current tax rules. PHEVs are not eligible for the FBT exemption that applies to battery-electric vehicles and hydrogen fuel cell vehicles under the current federal legislation. That exemption is reserved for zero-emission vehicles. A PHEV still attracts Fringe Benefits Tax, which is managed through your employer's packaging arrangement in the usual way — typically via employee contributions. This is not a reason to dismiss PHEVs, but it is a reason to model the numbers properly before signing anything.
The upside of the price cut is real regardless: a cheaper vehicle means a smaller FBT base, lower residual value obligations, and potentially lower comprehensive insurance premiums — all of which affect your total cost of ownership over the lease term. If a CX-60 or CX-80 was already on your shortlist, now is a reasonable time to run updated figures.
Common questions
Are the Mazda CX-60 and CX-80 PHEVs eligible for the FBT exemption?
No. The current FBT exemption for novated leases applies only to battery-electric vehicles (BEVs) and hydrogen fuel cell vehicles. Plug-in hybrids like the CX-60 and CX-80 PHEV are not included, so standard FBT rules apply.
Does the price cut actually change my novated lease repayments?
Yes, in principle. The vehicle's purchase price is one of the key inputs in a novated lease calculation. A lower price generally means lower base repayments and a lower FBT liability, though the exact impact depends on your income, lease term, and residual value selection.
Is a PHEV still worth it on a novated lease without the FBT exemption?
It can be. Novated leasing still delivers pre-tax benefits on running costs regardless of FBT status — fuel, registration, insurance, and servicing are all bundled and paid from pre-tax salary. The FBT is an additional consideration, not a dealbreaker, and varies with personal usage.
How do I know if the CX-60 or CX-80 is the right novated lease vehicle for me?
The honest answer is: run the numbers for your specific situation. Factors like your income, how much you drive, and whether you can charge at home all affect whether a PHEV makes sense. Talk to a properly licensed novated lease provider — not just a car dealer — before committing.
Will Mazda cut PHEV prices further?
We don't know, and anyone who tells you otherwise is guessing. What we can say is that the PHEV market in Australia is competitive and pricing has been trending downward across multiple brands. Locking in at current pricing is a known quantity; waiting is a bet.