Mazda Slashes CX-60 & CX-80 PHEV Prices — What It Means for Your Novated Lease
Mazda has cut CX-60 and CX-80 PHEV prices by up to $8,119. Here's what the drop means if you're considering a novated lease on either model. Read on.
Mazda has made a significant move in the Australian new-car market, cutting the drive-away prices of its CX-60 and CX-80 plug-in hybrid (PHEV) SUVs by up to $8,119, according to EVcentral AU. That's not a minor trim — for a family-sized SUV, it's a meaningful shift in the value equation, and it's worth understanding what it actually changes if you're a PAYG employee weighing up a novated lease on either vehicle.
PHEVs sit in a different tax category to fully battery-electric vehicles under the current FBT exemption rules, so the excitement here is less about tax breaks and more about the raw purchase price coming down — which directly flows through to your lease payments.
What this means for novated lease customers
In a novated lease, your repayments are calculated largely off the capitalised cost of the vehicle — essentially the price you pay for the car. When a manufacturer cuts the recommended retail price, that lower figure becomes the starting point for your lease, which means lower fortnightly payments all else being equal. A reduction of this size is not trivial.
It's worth being clear-eyed about the FBT side, though. PHEVs do not currently qualify for the Electric Car Discount FBT exemption — that benefit is reserved for zero-emissions vehicles (battery electric and hydrogen fuel cell). So a novated lease on a CX-60 or CX-80 PHEV still attracts FBT, typically managed via the employee contribution method (ECM). That said, PHEVs still benefit from pre-tax salary packaging in the normal way, and the potential savings on a lower-priced vehicle remain real — just don't expect the same tax treatment as a fully electric car.
If you were already looking at one of these models and the previous price felt like a stretch, this cut may well tip the numbers in your favour. Use a proper calculator — or talk to a broker — rather than relying on a showroom estimate.
Common questions
Do the Mazda CX-60 or CX-80 PHEVs qualify for the FBT exemption on novated leases?
No. The FBT exemption introduced under the Electric Car Discount Act applies only to battery-electric and hydrogen fuel cell vehicles. PHEVs are excluded, so standard FBT rules apply to both the CX-60 and CX-80 PHEV on a novated lease.
Does the price cut actually reduce my novated lease repayments?
Generally yes — the vehicle's purchase price is a core input in calculating your lease payments. A lower drive-away price typically means lower fortnightly costs, though the exact figure depends on lease term, residual value, and your salary. Run the numbers before assuming.
Is a PHEV still worth novated leasing if it doesn't get the FBT exemption?
It can be. Novated leasing bundles running costs like fuel, registration, insurance, and servicing into pre-tax salary, which still delivers a tax efficiency you don't get buying outright. The FBT exemption just isn't part of that equation for PHEVs.
Which is better for a novated lease — the CX-60 PHEV or the CX-80 PHEV?
That depends on your needs and salary. The CX-80 is a larger three-row SUV at a higher price point; the CX-60 is a mid-size five-seater. Both are now cheaper, but 'better' is a personal call — talk through both options with a broker who can model the actual costs for your situation.
Can I still novated lease a PHEV and save money compared to buying it outright?
For most PAYG employees, yes — because running costs are bundled and paid from pre-tax dollars. The FBT impost reduces but doesn't eliminate that benefit. The exact outcome varies by income and usage, so get a tailored quote.